NEW TAIPEI CITY, Taiwan--(BUSINESS WIRE)--Taiwanese Point-of-Sales terminal brand leader Posiflex announced today that they have entered into a purchase agreement with KIOSK Information Systems (KIOSK), a world leader in self-service solutions. Posiflex will offer KIOSK a cash purchase for all outstanding ordinary shares, for a total consideration of approximately $US 105 million. Both companies are industry forerunners known for best-in-class POS and self-service platforms. Combining these complementary strengths positions Posiflex for continued growth tied to emerging “Internet of Things” (IoT) applications within the service automation industry.
Retailers, financial service providers, hospitality and logistics service providers are key among an even wider industry audience driving steady and steep demand in transaction automation. Deployers are increasingly incorporating self-service as a “must-have” element of today’s Omnichannel consumer experience; increasing touch points, reducing costs – all while simultaneously collecting valuable transaction data. KIOSK is unique among its’ competitors in its ability to provide a complete end-to-end solution encompassing custom design engineering, manufacturing, software development, field services, and highly secure managed services. This “total solution” approach to services has fueled KIOSK’s continued growth and reinforced analyst’s rankings of KIOSK as the dominant North American provider and #3 globally.
As the IoT is driving improved asset utilization, better logistics management, and better customer experiences, self-service automation platforms become an increasingly integral element of Omnichannel sales strategies. Utilizing IoT data from transactions provides valuable insight for customer-specific data collection and enables customized point of sales marketing. Posiflex CEO Owen Chen adds that, “By combining Posiflex and KIOSK’s dual-value proposition in this domain, we are confident in emerging as a distant leader in this growing market.”
Post-transaction plans are to retain and empower the current KIOSK Management Team with no operational or organizational restructuring required as result of the transaction. Tom Weaver, KIOSK’s current CEO, will now hold dual Board of Director roles for both Posiflex and KIOSK. This will accelerate efforts of the current management team to execute KIOSK’s strategic growth plans, leveraging key Posiflex resources. Access to a global sales network and highly relevant engineering / integration capabilities are among many strategic leverage points created by combining the companies.
Leveraging Posiflex’s international channel reach throughout Greater China, Asian Countries, Russia, India, and Europe; KIOSK is uniquely positioned to ensure sustainable market growth not only in North America, but also the global marketplace. Further, Posiflex will provide substantial advantage for KIOSK tied to upgrading critical components and peripheral modules. This ultimately enhances KIOSK’s future solution offerings with even more advanced product and service coverage capabilities.
KIOSK CEO Tom Weaver adds, “We firmly believe that joining forces with Posiflex fully supports our growth objectives and represents the best interests of our customers and employees. Having overnight access to Posiflex’s international presence and complementary technology resource adds distinct competitive advantage and differentiation. This combined scale opens new doors to growing world markets and further advances KIOSK’s ability to provide comprehensive and state-of-the-art solutions.”
This transaction was advised by KPMG Corporate Finance LLC, and is expected to close in 2016-Q3.
About Posiflex:
Founded in 1984, Posiflex Technology, Inc. has designed and manufactured its own-branded and world-class POS solutions. Recognized as a pioneer and leader in the industry, Posiflex has been awarded more than 30 patents for innovative design. The company’s products are manufactured in two ISO 9001/9002/14001 facilities in Taiwan and sold worldwide through retail, hospitality, banking, healthcare, kiosks and many other verticals. Posiflex’s offices are in the USA, Germany, China, India, Singapore, Malaysia, Japan, Dubai and Argentina along with the global distribution networks to provide direct and timely support to its customers around the world. For more information: www.posiflex.com.
About KIOSK Information Systems:
As the Market Leader in Self-service Solutions, KIOSK provides proven expertise in design engineering; application development, integration, manufacturing, field support, and managed services for even the most sophisticated self-service platforms. An exceptionally broad portfolio of standard and custom KIOSK designs are deployed among Top 100 Retailers and Fortune 500 clients in virtually all self-service vertical markets. www.kiosk.com, 800.509.5471.
