OMAHA - Applied Communications Inc. has announced the formation of a joint venture and the signing of two client banks in Brazil.
The Omaha-based company will control 65% of the joint venture, which aims to become a major provider of payment services in the rapidly growing Brazilian market.
Its partner is Aratu Participacoes e Corretagem de Seguros Ltd., a diversified industrial and financial company.
The venture is in the process of opening an office and recruiting staff, said Carol Neubauer. vice president of Applied Communications' distributor operations.
Applied Communications said Unibanco and Banco Economico, respectively the fifth- and ninth-largest banks in Brazil, have licensed Base24-atm systems. The company also will provide software to support Unibanco's telebanking services.