Allied Tecnologia S.A., traded on B3 under the ticker ALLD3, is a Brazilian company focused on the distribution and retail of consumer electronics, with operations that began in 2001. Founded by the Radomysler family, the company started out as Allied Advanced Technologies Ltda., dedicated to importing and distributing cell phones and accessories in a market then concentrated in telecom operators. Over the 2000s, it consolidated relationships with manufacturers and the country’s main telcos, including an exclusivity contract for customization and after-sales services for a major operator, which gave its operations scale and relevance. The regulatory change introduced by ANATEL with the General Portability Regulation in 2007 profoundly altered the dynamics of cell phone sales, shifting the focus from operators to generalist retailers, a movement that created room for Allied to position itself as a strategic link between industry, operators and retail chains.

Between 2010 and 2014, Allied went through its second growth cycle, driven by the technological migration from cell phones to smartphones and by the expansion of the multi-category retail channel. In 2011, it received an investment from private equity fund One Equity Partners, which helped finance expansion and improve internal controls, management practices and corporate governance. During this period, it began diversifying its business by managing online stores for telecom operators, opening the first Samsung-branded brick-and-mortar stores in shopping malls in São Paulo and Rio de Janeiro, and expanding its portfolio to include digital cameras, notebooks and video game consoles. Allied was formally established as a corporation in 2014, followed by the merger of Allied Advanced Technologies Ltda. in 2016, consolidating its current corporate structure.

Starting in 2015, under the control of funds managed by Advent International (FIPs Brasil I and II), Allied began a third cycle marked by its consolidation as an integrated platform for digital products and services. In 2017, the creation of subsidiary Mobcom Tecnologia strengthened the digital retail channel, while the company expanded the operation of Samsung physical stores and acquired Wooza Tecnologia e Representações, focused on enabling data, voice and top-up plans in an online environment. During this period, the “store in store” model was implemented at large retailers, expanding the brand’s presence as a partner in managing technology sales. In 2018 and 2019, Allied reinforced its presence in Samsung brandshops through the acquisition of Arte Telecom and new points of sale, and also created Soudi Pagamentos, a structure dedicated to offering financial products and services, such as credit cards to drive sales in physical retail.

In April 2021, Allied listed on the Novo Mercado segment of B3, with common shares traded under the code ALLD3, reinforcing its commitment to more demanding corporate governance practices. In the same year, it acquired BrUsed, specialized in buying and selling used devices, which was later merged, allowing the company to scale its offering of refurbished electronics and build a dedicated channel for retail customers. This front evolved into the launch of the Trocafy brand in 2022, focused on the refurbished device market, with the development of both physical (kiosks) and digital channels. In 2023 and 2024, the company further diversified its revenue by expanding international distribution of electronics to Latin American countries, launching and operating official HP online stores aimed at end consumers and small and medium-sized businesses, starting equipment rental operations for Acer, and entering into partnerships with Apple, Itaú and Nubank in financing and buyback programs for iPhones and other Apple products.

Allied’s business model combines three sales channels – physical retail, digital retail and distribution – operated as a single operating segment from a managerial standpoint. In 2024, the company sold approximately 6.2 million products, generating net revenue of R$ 5.5 billion, with the distribution channel accounting for about R$ 4.1 billion and retail (physical and digital) for roughly R$ 1.45 billion. Its operations are centered on purchasing consumer electronics directly from manufacturers and reselling them to a broad base of B2B and B2C customers, with a portfolio that includes smartphones, notebooks, wearables, video games, TVs and other technology devices. The company works with more than 30 brands, including Apple, HP, Samsung, Motorola, Microsoft, Lenovo and Acer, and offers complementary services such as software license sales, device insurance, trade-in and intermediation of telecom plans.

In physical retail, Allied concentrates its efforts on Samsung stores and kiosks in shopping malls, as well as Trocafy-dedicated points of sale. As of December 31, 2024, it operated 113 points of sale, consisting of 111 Samsung operations (85 stores and 26 kiosks) and 2 Trocafy kiosks in the city of São Paulo, with a majority presence in the Southeast region and some points in Paraná, Minas Gerais and Mato Grosso do Sul. According to Samsung’s own management data, Allied is the brand’s largest store partner in Brazil, accounting for around 35% of sales in Samsung operations in the country. The physical stores primarily offer Samsung smartphones, tablets, wearables and accessories, as well as add-on services such as insurance and telecom bundles. Operations are governed by a partnership agreement that permits the use of the Samsung brand and prohibits the operation of exclusive physical stores for direct competitors.

The digital retail channel is operated mainly under the Mobcom brand, both through its own e-commerce and as a seller on major marketplaces, in addition to the Trocafy platform for refurbished products. In 2024, digital retail accounted for R$ 891.4 million in net revenue, with around 415 thousand products sold and an average annual growth rate of nearly 30% between 2019 and 2024. Allied operates its own Mobcomstore and Trocafy stores on the VTEX platform, and is also one of the largest smartphone sellers on marketplaces such as Mercado Livre, Magazine Luiza, Amazon and Casas Bahia. The company also manages official digital channels for third parties, such as HP stores on Mercado Livre and the online store aimed at small and medium-sized enterprises, as well as structural partnerships like the “iPhone pra Sempre” program jointly with Itaú and Apple and the operation of “Shopping Nu” to offer Apple products to Nubank customers. These programs combine the sale of new devices, buyback and resale of refurbished devices, reinforcing the used-product cycle driven by Trocafy.

In distribution, Allied positions itself as one of the largest consumer electronics distributors in Brazil, serving more than 4.4 thousand clients in 2024, including small and medium retailers, large regional chains, nationwide marketplaces, corporate customers and the public sector. The operation regularly distributes more than 4.1 thousand SKUs, focusing on manufacturers that have limited commercial and logistics structures in the country. The company stands out for offering ready-to-ship inventory, customized logistics solutions, management of distribution centers for partners, store-by-store servicing, invoicing for franchisees and category management services for retailers that lack expertise in electronics. It has four distribution centers, three in Brazil (Jundiaí/SP, Serra/ES and Extrema/MG) and one in Miami (USA), which allow it to reach around 5,000 municipalities and support both restocking of physical stores and direct delivery to end consumers.

From a regulatory standpoint, Allied’s core activity – retail and distribution of consumer electronics – is not considered a sectorally regulated activity, although the operation of physical points of sale requires compliance with municipal zoning rules, operating licenses and fire department authorizations. The company also acts as an insurance representative, intermediating coverage contracts for mobile devices on behalf of an insurer authorized by SUSEP, which subjects it to CNSP and SUSEP regulations regarding insurance representation. Additionally, Allied engages in intensive processing of personal data in its physical and digital operations and has therefore developed a privacy and information security governance structure to comply with the General Data Protection Law, including specific committees, appointment of a data protection officer (DPO), internal policies, recurring vulnerability tests and security monitoring (SOC). Environmentally, the company states that its activities do not generate significant impacts, but it maintains the required licenses and authorizations and is involved in circular economy initiatives, such as buying, reselling and refurbishing used devices through Trocafy.

Over the course of its history, Allied has evolved from a specialized cell phone importer into an integrated platform for the distribution, physical retail and digital retail of consumer electronics, with a significant presence in the technology value chain in Brazil and recent expansion into other Latin American markets. The consolidation of this multichannel model, combined with strategic partnerships with global manufacturers and financial institutions, defines the current profile of the company whose ALLD3 shares trade on B3, with revenue generation diversified across channels and strong exposure to the consumption cycle of technology goods in the country.