Loomis to acquire Burroughs for $110m.

Loomis, a cash handling company, agreed to acquire Burroughs, an independent service partner for the full lifecycle management of payment and transaction automation, for $110m. "The acquisition of Burroughs is a significant step in broadening our services surrounding ATMs and Automated Solutions in the US. Together we will offer a comprehensive full-service ATM solution, covering both first- and second-line maintenance. This will enable us to provide more services to existing customers and expand our addressable market, thereby capturing a higher market share. By leveraging our combined customer base and gaining better control of the service supply chain, we position ourselves for profitable growth. Our adjacent services have been instrumental in our growth journey, and we are committed to continuing this trajectory," Aritz Larrea, Loomis President and CEO.