Munich, July 12, 2013 – G&D UK Ltd. (GDGB) in Wembley has entered into a definitive agreement with Currency Tech, under which G&D UK Ltd. will acquire Currency, based in Milton Keynes All shares of Tech. By acquiring Currency Tech, G&D will further expand its presence in the UK market. Currency Tech's business complements G&D's existing products and services.
“G&D has a long and excellent professional competence in the entire value chain of cash handling and banknote business. By following our development strategy, we now have a good foundation, and we can expand our business, enter new markets and improve Our products and services to our existing customers. With our innovative technology, we are well positioned to maximize the potential of Currency Tech,†said Donald MacDonald, General Manager of G&D UK.
“We are convinced that G&D will bring positive and long-term growth to Currency Tech,†said Cory Hayward, General Manager of Currency Tech. “Gedger's strategic focus in the paper currency and cash handling business will ensure that our customers receive more innovative products and solutions, and a wider range of targeted services. For us, growing together with G&D is a huge opportunity. â€
According to Ralf Wintergerst, senior vice president and head of the Banknote Processing Division of G&D Group, the acquisition enhances the position of the division as a leading solution provider for all aspects of the cash cycle: from security architecture and high-level features to synthesis Cash center solutions, including automated access terminal cash operations to all aspects of cash recycling technology. Mr. Wintergerst said: “In addition to organic growth, the Banknote Processing Division also uses M&A transactions as a strategic tool to complement existing sales and service networks and support the expansion of products and services.â€
About G&D
G&D is a leading international technology supplier based in Munich, Germany. Founded in 1852, the G&D Group currently employs more than 11,200 people worldwide and achieved sales of 1.8 billion euros in fiscal 2012. In order to better serve its customers, G&D has established 58 subsidiaries and joint ventures in 32 countries around the world.
G&D is a global leader and technology innovator in all of its market segments, including banknote production and processing and banknote paper, security documents, identification systems and smart card solutions. As an end-to-end provider of mobile security applications, G&D develops and sells hardware, software, and services to banks, mobile network operators, public transportation companies, commercial enterprises, and OEMs.
In 1994, G&D began to officially enter the Chinese market. In the group's globalization development strategy, the development of the Chinese market has been highly regarded. So far, G&D Group has invested more than 50 million US dollars in China, and has modern factories in the development zones of Huangshi, Jiangxi and Nanchang, Hubei. The factory covers an area of ​​more than 60,000 square meters. With a capacity of 500 million, a personal capacity of 400 million, and a total staff of about 1,400, it is the leading card manufacturer in China and a card manufacturing and service center located in the Far East.
For many years, G&D China has always provided customers with a full range of products and services, including magnetic stripe cards, smart cards and operating systems, application system development and card related design, printing, card packaging, data processing, card personal Productization, mailing, etc., product categories include magnetic stripe cards, contact IC cards, contactless IC cards, dual interface cards, USB keys and system software, including mobile payment products, equipment to equipment (M2M) products, closed payment And points system, color photo card system, secure network banking solutions, etc., can be widely used in finance, telecommunications, social security, transportation, health care, education and many other industries and fields.
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