April 20 (SeeNews) - Romanian cybersecurity company Safetech Innovations [BSE:SAFE] said on Thursday that it has established a subsidiary in the United States, of which it owns 67% of the share capital.
The newly established entity in which Safetech owns 67% of the share capital, is the company's third international location, after the opening of offices in the UK and the United Arab Emirates last year, Safetech said in a statement filed with the Bucharest Stock Exchange.
In the coming months, the Reston, Virginia-headquartered Safetech Innovations US, Inc., will focus on operationalisation aspects, such as account opening, authorisation, hiring staff, and concluding partnerships with local vendors.
Liana-Ancuta Stancu will hold the position of manager and will lead the new U.S. entity of Safetech. She will also coordinate the operations of the company's UK subsidiary.
Safetech Innovations shares traded 3.27% higher at 3.16 lei ($0.7/0.64 euro) as at 1200 CET on Thursday on the Bucharest bourse.
(1 euro=4.93101 lei)