G+D, the Munich-based security technology specialist, announced on 26 June that its Currency Technology unit has acquired Procoin GmbH, a German provider of counting, sorting, and packing machines in the coins sector, as well as banknote counters. The purchase contract was signed today in Frankfurt, Germany.
With this takeover G+D Currency Technology is expanding its offering in the coins segment, whilst also strengthening its position as a global market leader for cash cycle automation. In addition, the company is benefiting from the wide product range offered by Procoin, as well as its strong distribution network in Europe. Procoin was founded in 1998, and has its registered office in Frankfurt.
"The global volume of cash will grow steadily. For this reason, G+D Currency Technology's acquisition of Procoin represents an investment in a market with an exciting future," stated Wolfram Seidemann, CEO of G+D Currency Technology. "We are bringing together Procoin's technically advanced product range with G+D Currency Technology's strong global presence. This enables us to offer outstanding support to our customers at every point in the cash cycle."
"We are delighted about the unique opportunity to affiliate with the market leader in the areas of cash as well as banknote processing," commented Marcus Nau, the current and future Managing Director of Procoin. "Together we can even better serve our customer's needs for greater efficiency and automation."