Giesecke & Devrient is to acquire UK-based coin/note sorting equipment supplier, Currency Tech. Terms of the deal were not disclosed.
“We have longstanding and excellent expertise along the complete value chain of the cash handling and banknote business. Pursuing our growth strategy, we now have an excellent base from which to expand the business, enter into new markets and enhance our offering to existing customers. With our innovative technology we are ideally positioned to leverage Currency Tech’s potential to the fullest,” says Donald MacDonald, managing director at G&D Great Britain.
“We are convinced that G&D is the right company to offer Currency Tech a positive long-term perspective,” says Cory Hayward, managing director at Currency Tech. “Their strategic focus on the banknote and cash handling business will ensure that our customers will be serviced with an even larger portfolio of innovative products and solutions and a broader range of customer specific services. For us, it is a great chance to grow together with G&D.”
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