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Nautilus Hyosung Inc., a self-service solution provider of ATMs, has signed an agreement to acquire Triton Systems of Delaware, Inc., a global ATM provider having its primary presence in North America, from Dover Corporation. Nautilus Hyosung, based in Korea, is a global manufacturer of complete ATM solutions, including hardware, software and services to the entire ATM sector.
The transaction is expected to be closed during the third quarter of 2008, pending regulatory approval. Terms of the deal were not disclosed.
“Triton offers an ideal fit with Nautilus Hyosung as we expand our global footprint not only in the US but worldwide,” said P.K. Ryou, CEO and President of Nautilus Hyosung. “We look forward to adding Triton’s strong brand and service chains with Nautilus Hyosung’s expertise in ATMs to provide our customers with the most comprehensive ATM offering in the marketplace, and furthering our leverage for growth into the banking sector,” said Ryou. Bill Johnson, CEO of Triton also added, “We are very excited about Triton’s future with Nautilus Hyosung. We believe the complementary cultures of innovation and customer service will provide a strong platform for growth to compete effectively in the ATM marketplace as well as benefit customers both domestically and globally.” Hyosung Corporation, the parent company of Nautilus Hyosung, is a $7 billion annualized revenue company based in Seoul, Korea, diversified in heavy industries, chemicals, textile and information technology industries. Hyosung Corporation is listed on the Korea Exchange
(KRX) under ticker number 004800.
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