April 4, 2016
GLORY acquires U.S. based Software Developer "REV Ventures LLC"
GLORY LTD. (GLORY) (Tokyo: 6457) has acquired 100% of the issued share capital of REV Ventures LLC (hereinafter Reevex), a leader in creating secure self-service and kiosk transaction software, through its overseas subsidiary, Glory Global Solutions Inc., USA.
1. Purpose of the acquisition
GLORY's strategy to achieve its "2017 Medium-Term Management Plan" and "Long-Range Vision 2018" has seen the refocus of management resources to its international and overseas business. Based on this, and to further expand the business in overseas markets, GLORY has decided to acquire Reevex, Atlanta, GA, USA, a former business partner of GLORY, with good experience and resources for designing and providing user interfaces and applications for self and assisted service devices.
2. Outline of Reevex
|1. Company Name||REV Ventures LLC|
|2. Location||1275 Kennestone Circle Suite 200 Marietta, Georgia 30066 United States|
|3. Representative||Snehal Vashi, CEO|
|4. Business Lineup||Software development for cash handling equipment|
|5. Established||November 2010|
・Date of execution of Share Purchase Agreement: March 25, 2016
・Date of transfer of equity interest: April 1, 2016
4. Future outlook
No material impact on consolidated business results of GLORY in this fiscal year is expected.
About GLORY LTD.
GLORY LTD., headquartered in Himeji, Japan, is a pioneer in the development and manufacture of money handling machines and systems. GLORY provides a variety of products such as money handling machines, cash management systems, vending machines, automatic service equipment, and cash management solutions that are built on its leading-edge recognition/identification and mechatronics technology. Committed to meet society's wide-ranging needs, GLORY serves the financial, retail, vending machine, amusement and gaming industries in over 100 countries around the world. GLORY employs approximately 9,000 people worldwide. For more information about GLORY, please visit GLORY's group website at http://corporate.glory-global.com/.
- GLORY LTD.
- Corporate Communications Dept.
Information in this document is current on the date of the announcement and subject to change without prior notice.