GLORY Announces Plan to Acquire Revolution Retail Systems LLC

Rhea-AI Summary

Glory Global Solutions Inc. has announced its offer to acquire Revolution Retail Systems LLC, enhancing its position in cash technology solutions. The acquisition is subject to necessary clearances, promising to create the industry's largest portfolio of cash automation products. Chris T Reagan, President of Glory, emphasized that the merger will bring more value and innovation to customers. Mark Levenick, President & CEO of Revolution, noted the strategic alignment between the two companies, which will have a significant impact on operational efficiency and service improvement.

Positive

• Creation of the industry's largest portfolio of cash automation products.
• Enhanced innovation and value delivery to customers.
• Strategic alignment with Revolution's focus on retail, promising operational efficiencies.

Negative

• None.

Combined strength will accelerate development, innovation and breadth of cash automation solutions

LISLE, Ill.--(BUSINESS WIRE)-- Glory Global Solutions Inc., a global leader in cash technology solutions, today announced it has made an offer to acquire Carrollton, TX based Revolution Retail Systems LLC (Revolution). Subject to GLORY and Revolution obtaining the necessary clearances, the ultimate ownership of Revolution will transfer to Glory Global Solutions Inc. The combined portfolio of cash automation products will form the largest and most diverse set of solutions in the industry.

Chris T Reagan, President Glory Global Solutions, Americas and Senior Executive Officer GLORY LTD. said, “We believe the clear winners in this acquisition are our customers. Our combined organizations will deliver more value and innovation to the market at a time when cash automation is critically needed to provide efficiency, connectivity and security. Revolution’s focus and success in the retail segment will enable us to immediately deliver an expanded portfolio of solutions and even greater business impact for our customers.”

Mark Levenick, President & CEO, Revolution Retail Systems LLC welcomes the opportunity this acquisition will enable saying, “We believe that this acquisition by Glory comes at the perfect time. Revolution and Glory complement each other in so many strategic and operational areas, as well as placing significant value on our people, culture and history.”

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About GLORY

As a global leader in cash technology solutions, we provide the financial, retail, QSR, cash center and gaming industries with confidence that their cash is protected and always working to help build a stronger business.

Our cash automation technologies and process engineering services help businesses in more than 100 countries optimize the handling, movement and management of cash. While we span the globe, we personally engage with each customer to address their unique challenges and goals — enhancing staff efficiency, reducing operating costs and enabling a more rewarding customer experience.

Employing over 11,000 professionals worldwide with dedicated R&D and manufacturing facilities across the world, GLORY is built on a rich customer-focused, technology-driven heritage spanning almost a hundred years.

For further information please visit www.glory-global.com or follow us on Twitter: http://twitter.com/glory_global.

About Revolution Retail Systems, LLC:

Revolution’s management expertise spans 35 years in the retail and cash management industry. Revolution is the leader and innovator in the design of cash management solutions for the broad retail marketplace. This unique focus has led to deployment of equipment into hotels, universities, big box retail, grocery, casinos, airports, and truck stops nationally and internationally. The unique challenges in our market segments are supported by our 24/7 – 365 monitoring and support center and nationwide field service.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211129005243/en/

Media

Glory

Paul Race

Vice President, Strategic Marketing

paul.race@glory-global.com

+44 7887 052366

Source: Glory Global Solutions Inc.

FAQ

What is the purpose of the acquisition of Revolution Retail Systems by Glory Global Solutions (GLYYY)?

The acquisition aims to create the largest portfolio of cash automation products, enhancing innovation and service delivery to customers.

When was the acquisition announcement made by Glory Global Solutions (GLYYY)?

The acquisition offer was announced recently, with the clearances still pending.

How will the acquisition of Revolution Retail Systems impact Glory Global Solutions (GLYYY) customers?

Customers will benefit from an expanded portfolio of cash automation solutions, leading to improved efficiency and connectivity.

What are the expected outcomes of the Glory Global Solutions (GLYYY) and Revolution Retail Systems acquisition?

The acquisition is expected to result in enhanced operational efficiencies, broader solution offerings, and increased market impact.