Germany’s Giesecke+Devrient Currency Technology has acquired Procoin, a supplier of counting and sorting machines.

G+D, the Munich-based security technology specialist, through this purchase, expands its offer in the coins sector and strengthens its position in the global cash recycling business.

Wolfram Seidemann, CEO of G+D Currency Technology said: “The global volume of cash will grow steadily so this acquisition represents an investment in a market with a strong future. We are bringing together Procoin’s technically advanced product range with G+D Currency Technology’s strong global presence.”