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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Microsoft Corporation    MSFT

MICROSOFT CORPORATION

(MSFT)
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Delayed Quote. Delayed Nasdaq - 11/25 04:00:00 pm
213.87 USD   +0.00%
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Microsoft : Privity FZ LLE participates in Verofax pre-seed investment round

07/05/2020 | 06:03am EST

DUBAI, UAE, Jul 5, 2020 - (ACN Newswire) - - Verofax Limited, a start-up building innovative Traceability services with the application of blockchain, closed its recent pre-seed investment round with participation from Privity FZ LLE, based in the UAE, acquiring an equity stake. Privity is an independent venture-focused advisory firm, founded in Dubai in 2004, that has backed and invested in more than a dozen portfolio companies since its inception.

Wassim Merheby, Verofax CEO, commented, "We are truly thrilled to welcome Privity as a shareholder in Verofax. Traceability plays a key role in upgrading brand owners' business through authenticity validation, advanced product marketing and access to financing and global markets. Traceability is a key enabler of digital transformation to automated and resilient supply chain services. In the markets where Traceability has been deployed such as China, sales increased by over 30% while consumer complaints dropped by 42%. It is just a matter of time for Traceability to become a must for ShopSafe compliance regulations, currently under review in the US."

Mr. Merheby is leading transformation projects for the Health authorities in UAE in relation to eHealth native digital services, and promoting patient safety through the application of integrated technologies. The world has just been hit by a pandemic which clearly points out that Healthcare could be better managed with contactless processes applying technologies such as IOT devices, drones, blockchain, AI, and augmented reality. The most immediate need is for the safe delivery of eHealth services, where Verofax offers wide applicability for the underlying systems of the Healthcare and supply chain industries.

Sleem Hasan, Privity Founder and CEO, said "Privity participated alongside reputed regional investors in the pre-seed round of investment in Verofax. This is also Privity's first portfolio company based in the UAE, and its second HealthTech venture. I am delighted to open Privity's network to Verofax as I find the underlying value proposition of their business idea compelling. COVID-19 has demonstrated the need to transform secure delivery and offer protection to the most vulnerable in our society. Verofax services are perfectly positioned and aligned to secure pharmaceutical deliveries of medication in the region with privacy and safety."

Verofax proprietary traceability and delivery solutions powers unique compliance and brand protection services, including serialization, traceability, anti-counterfeit and anti-diversion solutions. The service supports manufacturers of food, pharmaceuticals and other consumer goods, in meeting evolving product traceability regulations and growing consumer demand for product safety, security and authenticity.

About Verofax

Verofax Limited is a blockchain-enabled, traceability service provider established in Abu Dhabi Global Markets, UAE. Verofax services have been accepted by Oracle, Microsoft and Ant Group for co-selling across their established B2B channels. Verofax has recently set up subsidiary entities in Malaysia and Estonia, to offer Traceability-as-a-service across wider geographies.

About Privity

Privity FZ LLE was founded in 2004, an independent venture-focused advisory firm that seeks entrepreneurs with interesting and unique ideas and helps them develop and grow. Privity is agnostic to geography and industry vertical. It focuses on the quality of the entrepreneur and the compelling value proposition of the idea.

Visit Verofax at https://verofax.com, and Privity FZ LLE at http://www.privitylle.com.

Copyright 2020 ACN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
MICROSOFT CORPORATION 0.00% 213.87 Delayed Quote.35.61%
ORACLE CORPORATION -0.28% 57.41 Delayed Quote.8.36%
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Financials (USD)
Sales 2021 158 B - -
Net income 2021 51 336 M - -
Net cash 2021 76 102 M - -
P/E ratio 2021 31,7x
Yield 2021 1,02%
Capitalization 1 617 B 1 617 B -
EV / Sales 2021 9,76x
EV / Sales 2022 8,71x
Nbr of Employees 163 000
Free-Float 99,9%
Chart MICROSOFT CORPORATION
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Microsoft Corporation Technical Analysis Chart | MSFT | US5949181045 | MarketScreener
Technical analysis trends MICROSOFT CORPORATION
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 39
Average target price 242,47 $
Last Close Price 213,87 $
Spread / Highest target 30,0%
Spread / Average Target 13,4%
Spread / Lowest Target -15,8%
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Managers
NameTitle
Satya Nadella Chief Executive Officer & Non-Independent Director
Bradford L. Smith President & Chief Legal Officer
John Wendell Thompson Independent Chairman
Kirk Koenigsbauer COO & VP-Experiences & Devices Group
Amy E. Hood Chief Financial Officer & Executive Vice President
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