German banking IT service provider Wincor Nixdorf has agreed to acquire Brink’s CiT operations in the Netherlands in a bid to boost its cash management capabilities.
As part of the deal, Wincor Nixdorf will buy the business, infrastructure and employees of Brink’s Netherlands and will combine them with the business of SecurCash, a subsidiary of Wincor Nixdorf specialized in cash management and cash logistics.
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Upon completion of the deal, Wincor Nixdorf will provide around 40% of cash management and logistics services in the Netherlands.
The deal will enable SecurCash to benefit from synergies from the business with banks and retail companies. It will also offer the necessary capacity expansion for the provision of cash handling services to four major banks.
Wincor Nixdorf will cover the entire cash logistics chain in the cash centers located across the Netherlands and employ over 600 employees following the acquisition.
The acquisition has received approval from the Dutch anti-trust authority (Autoriteit Consument en Markt – ACM) on 15 September 2015.
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By GlobalDataWincor Nixdorf president and CEO Eckard Heidloff said: "As a partner of banks and retailers, our cash handling services will be seamlessly linked to our IT services to operate systems and IT infrastructures and add profitable services to our value chain end-to-end.
"Bank and retail customers will profit from process optimization of a provider of hardware, software and services along the entire cash logistics chain."
