Japan Cash Machine Co, the world-famous bill validator specialist, has bought ticket dispenser equipment manufacturer FutureLogic Group LLC.
The news was released at an extraordinary board meeting of JCM on August 1. JCM has purchased 100 per cent of FutureLogic.
In a press release, JCM said that the purchase of FutureLogic would supplement its specialist development of money handling products.
“The company strives to optimise reduction in cost of currency processing, while providing consumers with an automated means of purchasing goods and services for a wide range of industries, including gaming, banking, retail and transportation.”
It said that FutureLogic has six subsidiaries, including the leading company in the global gaming industry as a supplier for cashless gaming printer systems, especially the TITO (ticket-in ticket-out) system.
“JCM can strengthen its product portfolio of bill validators and printers through this acquisition.”
The cost of the purchase as $72.2m. FutureLogic Group’s operating sales at the end of December 2013 totalled $47.2m and gave a net income of $5.7m. It has assets valued at $19.9m.
