SeeZam S.A., a flagship provider of virtual safes, has announced a Management Buy Out (MBO) operation from its founders and a historic shareholder.

The directors appointed on 27 May now control nearly 90% of capital. With the unanimous backing of minority shareholders, they are taking back control of a majority stake of 53% who were detained by a Belgian-Luxembourg group.

The Luxembourg company, a former start-up founded in 2009 and led by the Luxembourg-Belgian tandem Pierre Van Wambeke (CEO) and Khamlek Phommaxay (CTO), has developed a unique solution for a digital safe. The company relies on a niche market of protection and security of sensitive information. In 2013, it opened its capital to the group Systemat BeLux to industrialise the SeeZam solution, to facilitate geographic expansion and optimise the ergonomics of the product.

"We are particularly proud of the development that SeeZam was able to achieve during the last three years," commented Pierre van Wambeke, CEO. "Today we are entering a new phase in SeeZam's life which challenges our experience, our agility and our pragmatism. It was perfectly logical to redeem our initial investments in order to refocus on our portfolio services and provide total independence to the service of the success of our customers. The independence of large groups opens up interesting prospects for the future."

"In a digital trust fund so fragile in times of all kinds of scandals and information leaks, SeeZam has definitely marked the digital privacy market with an indelible imprint," added Khamlek Phommaxay, CTO of SeeZam S.A.

SeeZam enables the holding and sharing of sensitive information with authorised third parties with the necessary security and confidentiality. The solution involves various economic actors including boards of directors, banks and insurance providers and fiduciaries.

 

Photos by SeeZam (L-R): Pierre Van Wambeke; Khamlek Phommaxay