BASINGSTOKE, England--(BUSINESS WIRE)--GLORY Ltd. [TYO:6457] today announced that it has completed a business purchase through acquiring the assets of Semeci Limited, a leading provider of cash automation solutions to the retail banking industry in Ireland, who traded as Cash Handling Systems (CHS).
Ireland represents an important growth market for Glory. In 2016, economic growth exceeded that of any other country in the Eurozone resulting in increased investment in bank branches and retail stores. With around 70% of all retail transactions completed in cash, businesses across the country are recognising the opportunities presented by automating their cash operations to reduce costs and refocus staff on higher value customer facing activities.
Commenting on the acquisition Akihiro Harada, CEO of Glory Global Solutions, said, “This acquisition supports Glory's strategy of expanding our international business through providing sales and maintenance service directly to our end customers. This is very much in line with the company's growth strategy, focussing more of our management resources on the expansion of our business beyond Japan."
Vincent Nakache, Glory’s President Europe, Middle East and Africa said, ‘CHS has been a successful Glory partner with an excellent track record. With Ireland experiencing a resurgent economic climate and a positive growth outlook, we believe the additional synergy and resources that a direct Glory presence offers, coupled with the relationships the existing team has in place, will bring many benefits both to existing and new customers.”
John Corcoran, Director of Semeci Limited, commented, “We are delighted to be joining the Glory family. Glory is a world leader in cash technology solutions and we have enjoyed a 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 the years. I am very much looking forward to my continued involvement in the business and working closely with my new Glory colleagues.”
The new subsidiary company will trade as Glory Ireland.
As a global leader in cash technology solutions, we provide the financial, retail, cash center and gaming industries with confidence that their cash is protected and always working to help build a stronger business.
Our cash automation technologies and process engineering services help businesses in more than 100 countries optimize the handling, movement and management of cash. While we span the globe, we personally engage with each customer to address their unique challenges and goals — enhancing staff efficiency, reducing operating costs and enabling a more rewarding customer experience.
Employing over 9,000 professionals worldwide with dedicated R&D and manufacturing facilities across the world, GLORY is built on a rich customer-focused, technology-driven heritage spanning almost a hundred years.