Loomis makes strategic acquisition in the US by acquiring Burroughs | PR Newswire [Video]

, /PRNewswire/ — Loomis AB has, through its wholly owned subsidiary Loomis US Holding Inc, entered into an agreement to acquire 100 percent of Burroughs, Inc for an initial purchase price of USD 72 million (SEK 695 million) on a cash and debt free basis, plus a potential earn-out. The acquisition is in line with Loomis’ communicated strategy to broaden its ATM and Automated Solutions service offering by acquiring new capabilities. 

Burroughs delivers comprehensive lifecycle management services across a wide range of device types in the US and Canada. The company offers digital and on-site first- and second-line maintenance services for, among others, ATMs, smart safes, and kiosks. These services include payment and transaction automation, unattended self-service technology, remote monitoring, predictive maintenance, and other connected technologies. The company is OEM-agnostic, ensuring that its solutions and services are adaptable to various device types.

With a total workforce of approximately 600 employees, of which the majority …