Nautilus Hyosung to acquire Triton Systems
Secures bridgehead to grow as a global Big3 player
Nautilus Hyosung Inc., announced on July 31 that the company has signed an agreement to acquire Triton Systems of Delaware Inc., a global ATM (Automatic Teller Machine) provider based in the United States.
Triton Systems, a global ATM provider, is a subsidiary in the industrial machine sector of Dover Group, a U.S. based heavy machinery firm, which has a distribution network from North America to the U.K., Mexico, Canada and Australia, recording $80 million sales (15,000 units) of ATMs last year.
"This agreement has been made reinforcing the two parties' strategy in which Nautilus Hyosung is seeking to broaden international sales channels and Dover Group intends to adopt restructuring measures. I expect our company will enjoy the synergistic effect in the near future as Triton is a well-know ATM brand in North America and overseas market based on high quality technology and R&D." said P.K. Ryou, PG director of Information & Communication Dep't.
"This acquisition will enable us to gain a global market share of up to 15% and secure business footholds in North America and overseas. We will grow to be a global top 3 ATM provider by expanding our business in the high value-added ATM market based on continuous technology development and number 1 quality." said H.S. Cho, managing director of Strategy Dep't who led this acquisition project.
Nautilus Hyosung has been pioneering direct sales channels in America since early last year and is expected to accelerate the high function ATM market place by expanding existing sales backed up by this acquisition of Triton Systems.
