G4S buys South African retail cash tech group

Security firm G4S has announced that it is to acquire the South African retail cash solutions technology provider Deposita.

The UK-listed company will take an 87% stake in Deposita for a total consideration of 114m rand (£8.2m) post debt restructuring.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

"The acquisition of Deposita will significantly strengthen G4S's position in the South African retail cash technology marketplace, which is forecast to grow rapidly over the next three years," the company said.

Albert Erasmus, the Managing Director of G4S Cash Solutions South Africa, commented: "This will accelerate our growth via the addition of exciting new capability that will assist the development of the cash business via the provision of more complete end-to-end solutions for our customers".

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.