Andean Development Corp, a Nasdaq-traded engineering service company has paid $100,000 for a 70% stake in Santiago, Chile-based software firm Ingesis SA. Andean, from Boca Raton, Florida has purchased the stake to gain access to a digital security system, developed by Ingesis and endorsed by the Chilean Tax department. The system operates via a digital signature which is generated by encrypting a logarithm on a chip. The system is due to start commercial testing in the next two months, but Andean is confident it will be installed in the majority of shops in Chile, before moving to other countries.
