Acquisitions · Cash-handling machines
Glory buys Texas cash-recycler maker Revolution Retail for about $185 million
- Buyer
- Glory (via Glory Global Solutions Inc.) (Himeji, Hyogo)
- Target
- Revolution Retail Systems, Carrollton, Texas
- Value
- About $185M (¥21B)
- Status
- Completed in December 2021.
- Date
- 2021-11-29
Glory's US subsidiary agreed to buy Revolution Retail Systems, a company in the Dallas area founded in 2011 that makes cash recyclers, machines that count, store and pay out cash in stores, for $182 million plus about $3 million in fees, about ¥21 billion. Revolution had 264 employees. Glory disclosed the price in its Japanese stock-exchange filings.
Why it matters
Glory is the leading maker of cash machines in Japan; the deal gave it a strong position with large US retailers that were automating cash handling in their back offices.
About Revolution
Revolution Retail Systems is based in Carrollton, Texas, and is led by president and chief executive Mark Levenick. It focused on cash automation for retailers, where store staff deposit and draw cash from machines instead of counting it by hand.
How Glory saw it
Glory's US arm, based in Lisle, Illinois, said the combined lineup would be the largest and most varied set of cash automation products in the industry. Chris Reagan, who heads Glory in the Americas, said Revolution's strength in retail would let Glory offer customers more right away. The deal closed on December 22, 2021.
Sources
Kakehashi M&A News home
