BASINGSTOKE, England--(BUSINESS WIRE)--Glory Global Solutions Ltd, a wholly owned subsidiary of GLORY Ltd. [TYO:6457], has acquired 100% of the issued share capital of Advanced Transaction Systems (ATS), New Zealand’s largest provider of cash handling solutions to both the retail and banking industries.
New Zealand is an important growth market for Glory Global Solutions with cash in circulation rising year on year since records began in 1968. Since 2010, this growth has been over 26%.1 While usage of cards, and more recently mobile payments, is rising year on year, cash remains an important payment choice for New Zealanders. Smart businesses across the country are recognizing the opportunities presented by automating their cash operations to reduce costs and refocus staff on higher value customer facing activities.
In addition to complementing Glory’s leadership position in banking, ATS’ extensive customer base in the retail industry will strengthen the company’s growth in this strategic growth segment.
Speaking about the acquisition, Paul Adams, CEO of Glory Global Solutions said, “We are delighted to be making this investment. Retailers in New Zealand are pioneers in the adoption of cash automation technologies to manage costs and improve the customer experience in their stores. The acquisition of ATS will enable us to better service the needs of our combined banking and retail customer base as well as addressing those of other businesses looking to optimise their cash processes. Combining ATS with our existing New Zealand service operations and working with the strong Glory business in Australia will allow us to support our customers on both sides of the Tasman Sea even more strongly than before. I am looking forward to working with our new colleagues in New Zealand and supporting them in their continued success.”
President Onoe of GLORY Ltd said: “The acquisition of ATS, a New Zealand based Sales and Service Company, supports GLORY's strategy of expanding overseas business through providing sales and maintenance services directly to customers. This is very much in line with our “2017 Medium Term Business Plan" and our "Long-Range Vision 2018", in focussing more of our management resources on the expansion of our overseas business”
Barry Dow, CEO of ATS, commented, “This is a great opportunity for our customers and we are delighted to be joining the Glory family. Glory is the world leader in cash management solutions and we have enjoyed our long association with them. The acquisition means that our customers will have direct access to the extended Glory team while enjoying continuity of the individual relationships we have nurtured over many years. I am very much looking forward to my continued involvement in the business and working closely with my new Glory colleagues, many of whom we already know so well.”
1Source: Reserve Bank of New Zealand data
About Glory Global Solutions
Glory Global Solutions is the global leader in secure cash management solutions. Operating across the financial, retail, cash centre and gaming industries, businesses in more than 100 countries rely on our solutions to enhance staff efficiency, reduce operating costs and enable a better customer experience.
Headquartered in the UK, Glory Global Solutions is a wholly owned subsidiary of GLORY Ltd. [TYO:6457]. Employing over 3,000 professionals worldwide with dedicated R&D and manufacturing facilities across Europe, Asia and North America, Glory Global Solutions is GLORY’s international sales and service organisation. Built on a rich customer-focused, technology-driven heritage spanning almost a hundred years, GLORY is a pioneer in the development and manufacture of cash management, vending and automatic service equipment.
For further information please visit www.gloryglobalsolutions.com or follow us on Twitter: http://twitter.com/glory_global.
