Glory Global Solutions, a wholly owned subsidiary of GLORY Limited, has acquired 100 per cent of the issued share capital of Advanced Transaction Systems (ATS), New Zealand’s largest provider of cash handling solutions to both the retail and banking industries.

NZ is an important growth market for Glory Global Solutions, with cash in circulation rising year on year since records began in 1968. Since 2010, this growth has been over 26 per cent. While usage of cards, and more recently mobile payments, is rising year on year, cash remains an important payment choice for New Zealanders. Smart 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.

In addition to complementing Glory’s position in banking, ATS’ extensive customer base in the retail industry will strengthen the company’s growth in this strategic growth segment.

Speaking about the acquisition, Paul Adams, CEO of Glory Global Solutions said, “We are delighted to be making this investment. Retailers in NZ are pioneers in the adoption of cash automation technologies to manage costs and improve the customer experience in their stores. The acquisition of ATS will enable us to better service the needs of our combined banking and retail customer base as well as addressing those of other businesses looking to optimise their cash processes. Combining ATS with our existing NZ service operations and working with the strong Glory business in Australia will allow us to support our customers on both sides of the Tasman Sea even more strongly than before. I am looking forward to working with our new colleagues in NZ and supporting them in their continued success.”

Barry Dow, CEO of ATS, commented, “This is a great opportunity for our customers and we are delighted to be joining the Glory family. Glory is the world leader in cash management solutions and we have enjoyed our 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 many years. I am very much looking forward to my continued involvement in the business and working closely with my new Glory colleagues, many of whom we already know so well.”