HIMEJI, Japan - Wednesday, February 15th 2012 [ME NewsWire]
(BUSINESS WIRE)-- GLORY LTD. ("GLORY", Hyogo, Japan) (TOKYO:6457) hereby
announces that it has resolved to make a binding offer to acquire all
of the outstanding shares of Talaris Topco Limitedheadquartered in
Basingstoke, UK ("Talaris"), a provider of cash handling equipment and
software solutions, which was approved at its Board of Directors'
meeting held on February 14, 2012.
GLORY has been expanding its business as a provider of money handling
machines, utilizing its core technologies of recognition/identification
and mechatronics and the sales/maintenance service networks. Especially
in recent years, GLORY has deployed its management resources to overseas
business, which GLORY positions as a "growth business". Talaris was
established through a management led buy-out in September 2008 of the
Cash Systems Division of De La Rue, a UK company with over 200 years of
history and a pioneer in the cash handling sector, who was first to
launch the automatic cash dispensers used by bank tellers. Talaris and
its 34 subsidiaries (together, "Taralis Group") is one of the leaders in
the cash handling machines business covering the financial
institutions, retail and other sectors. Talaris Group is a highly
profitable enterprise providing a wide range of services. Completion of
the acquisition will provide GLORY with the wider distribution and
maintenance service networks, advanced solution capabilities, a broad
customer base and skillful human resources and management teams of
Talaris Group, and is envisaged to accelerate the growth of GLORY's
overseas business. By combining GLORY's product development capabilities
with Talaris' system solution expertise, improved services for money
handling solutions can be provided to customers. The core members of
Talaris management team are expected to continue to participate in the
management of Talaris, after the completion of the acquisition, and also
to contribute to the growth of GLORY Group's business. Completion of
the acquisition is subject to acceptance of the offer by and the
execution of share purchase agreement with the shareholders in Talaris,
and the receipt of relevant regulatory approvals.
About GLORY LTD. GLORY LTD. (TOKYO: 6457), headquartered in Himeji,
Japan, is a pioneer in the development and manufacture of money handling
machines and systems. GLORY provides a variety of products built on its
leading-edge recognition/identification and mechatronics technology,
such as money handling machines, cash management systems, vending
machines and automatic service equipment. Committed to meet society's
wide-ranging needs, GLORY serves the financial, retail, vending machine,
amusement and gaming industries in over 80 countries of world. GLORY
employs more than 6,000 people worldwide. For more information about
GLORY, please visit GLORY's global website at
http://www.glory-global.com.
Contacts
GLORY LTD.
Masato Inuga, +81-79-294-6317
General Manager
Public/Investor Relations Dept
inuga@mail.glory.co.jp
http://www.glory-global.com
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