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.
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.
Deposita, founded in 2004, is the market leader in cash devices and related cash-in-transit, cash processing and insurance for the retail sector, G4S said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
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".
-
Hargreaves Lansdown bumps up cash ISA with £25 cashback - does it beat the wider ISA market?
Just days before the end of the tax year, Hargreaves Lansdown has launched a £25 bonus for those who open a cash ISA on its savings platform. Does the bonus make it a competitive rate, and are you eligible for the cashback?
By Vaishali Varu Published
-
FCA targets finfluencers with new social media guidance
So-called finfluencers have been warned by the UK financial watchdog that they could face prosecution if they fail to follow new rules.
By Henry Sandercock Published