18 Jan Xesol Innovation confirms its growth and diversification by creating subsidiary companies
The creation of some subsidiary companies has recently been formalised. This establishment has been motivated by several aspects derived from the growth of the group.
The business growth of a company generates strategic business units (UEN) of technological, operational or strategic kind; once it reaches a sufficient critical mass, this results in the establishment of its own entity (subsidiary company). The current growth experienced by Xesol Innovation has led to the creation of two technological subsidiaries (XESOL SLAM, XESOL Biometrics) and a corporate one, XESOL Innovation Inc. (USA).
Aligned with the holding company, each of the three new subsidiary companies will have its own strategic plan. However, its activities will remain immersed in a common context in which connectivity, artificial intelligence and Big Data continue to be key for the development of solutions for the smart mobility sector.
- XESOL Biometrics
Subsidiary company that develops biometric technology to manage use permits of vehicles and warnings in case of tiredness or fatigue and distractions.
- XESOL SLAM
Subsidiary company formed to develop solutions based on SaaS (Software-as-a-service) and PaaS (platform-as-a-service) services, which generates maps in real time to warn drivers about the conditions of roads, traffic or the best routes to travel.
- XESOL Innovation Inc.
There are several reasons that make California (USA) the perfect place to establish a subsidiary company, since it is the epicentre of autonomous driving, and Xesol Innovation wants to be there.
Change of legal form
Currently, Xesol Innovation is changing its legal form as Public Limited Company, being this the constitution model that best adapts to the needs of large firms.
This change is driven mainly by the following reasons:
- Stock market listing.
- Carry out treasury stock transactions.
- Transferability of shares.
- An audited entity transmits greater transparency.