Friday, April 01, 2011

Loomis to Acquire Pendum's Cash Handling Business

Loomis AB, Sweden, has agreed to acquire the cash handling business of Pendum LLC in the United States for USD 100 million. The business being acquired includes cash replenishment and management of 43,000 ATMs across the US and with annual revenues of approximately USD 100 million. Pendum, which is owned by private equity group Bayside Capital, will continue to operate its ATM maintenance and service operations.

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