Go To Further Information
Established 10 years
Unit 7 Torc MK
Chippenham Drive
Milton Keynes
MK10 0BZ

Tel: 0845 601 6431
Fax: 0845 601 6432
Email: info.currencytech@gi-de.com

Giesecke and Devrient acquire Currency Tech Ltd

Giesecke & Devrient Great Britain to Take Over Currency Tech

 

 

 

Munich, July 12, 2013 – Giesecke & Devrient Great Britain Ltd. (GDGB), Wembley, and Currency Tech entered into a definitive agreement, under which GDGB will acquire all shares of Currency Tech, based in Milton Keynes. By acquiring Currency Tech, G&D is taking the next step toward growing its presence in the UK market. Currency Tech’s business is complementary to G&D’s existing product and service portfolio.

 

“G&D has longstanding and excellent expertise along the complete value chain of the cash handling and banknote business. Pursuing our growth strategy, we now have an excellent base from which to expand the business, enter into new markets and enhance our offering to existing customers. With our innovative technology we are ideally positioned to leverage Currency Tech’s potential to the fullest", stated Donald MacDonald, Managing Director of G&D Great Britain in Wembley.

 

“We are convinced that G&D is the right company to offer Currency Tech a positive long term perspective,” said Cory Hayward, Managing Director of Currency Tech. “G&D's strategic focus on the banknote and cash handling business will ensure that our customers will be serviced with an even larger portfolio of innovative products and solutions and a broader range of customer specific services. For us, it is a great chance to grow together with G&D.”

 

According to Ralf Wintergerst, Group Senior Vice President and Head of G&D’s Banknote Processing division, this acquisition reinforced the position of the division as the leading solution provider for all aspects of the cash cycle: from security architecture and high-level features through integrated cash centre solutions including all aspects of cash operation to cash cycle technology in automated payment and deposit terminals. Wintergerst: “In addition to growing organically, the Banknote Processing division uses M&A transactions as a strategic tool to complement the existing sales and service network and to support the extension of its portfolio.”

 

 

 

 

 

About Giesecke & Devrient

Giesecke & Devrient (G&D) is a leading international technology provider headquartered in Munich, Germany. Founded in 1852, the Group has a workforce of over 11,200 employees and generated sales of approximately EUR 1.8 billion in the 2012 fiscal year. 58 subsidiaries and joint ventures in 32 countries ensure customer proximity worldwide.

G&D develops, produces, and distributes products and solutions in the payment, secure communication, and identity management sectors. G&D is a technology leader in these markets and holds a strong competitive position. The Group's customer base mainly comprises central and commercial banks, mobile network operators, business enterprises, governments, and public authorities. For more information, please visit: www.gi-de.com

 

About Currency Tech

Currency Tech is the largest independent supplier of cash handling equipment within the UK market. With approximately 40 employees it has been supplying and servicing cash handling equipment in the UK for over ten years with a large range of coin sorting, bank note counting and bank note checking machines for the handling and processing of UK and international currency.

Other News Stories

Another PayPod installation

January 2019: G+D Currency Technology GB Ltd are delighted to announce the installation of another Crane P.I. Pay.Pod™ Hybrid point of sale cash recycli ...Read More

Bothams - a case study

November 2018: 3 months after installation of a GD PayPod Hybrid unit in the Bothams Enterprice Way bakery retail outlet, it has been possible to examine in de ...Read More

GD PayPod™ first UK installation

September 2018- G+D Currency Technology have installed the first GD PayPod™ system into Bothams Bakery in Whitby , North Yorkshire. As a leading tradit ...Read More

G+D introduce PayPod™

  July 2018- G+D Currency Technology will market the GD PayPod™ retail POS payment terminal in the UK. Utilising the years of experience gained ...Read More

First major order for ProNote 1

June 2018- G+D Currency Technology can announce the successful completion of a major roll-out of over 250 units of the ProNote 1 to a major high street organi ...Read More

 
close
To improve your experience on our website we use cookies, by using our website you agree that we may store and access cookies on your device. Click here to find both more about and how to manage your cookies.