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Loomis AB ( (SE:LOOMIS) ) just unveiled an announcement.
Loomis AB has announced the acquisition of Burroughs, Inc., a US-based company specializing in lifecycle management services for ATMs and other devices, for an initial purchase price of USD 72 million. This strategic move aligns with Loomis’ goal to expand its ATM and Automated Solutions services in the US, enhancing its market share and service offerings. The acquisition is expected to be accretive to Loomis’ operating profit and earnings per share over time, with the transaction funded through available cash and existing credit lines. The integration of Burroughs will bolster Loomis’ service capabilities, positioning the company for profitable growth in the US market.
More about Loomis AB
Loomis AB is a leading provider of secure and effective comprehensive solutions for managing payments, including the distribution, handling, storage, and recycling of cash and other valuables. The company primarily serves financial institutions and retailers through an international network of around 400 branches in 27 countries, employing approximately 24,000 people. In 2024, Loomis reported revenue exceeding SEK 30 billion and is listed on the Nasdaq Stockholm Large-Cap list.
Average Trading Volume: 110,712
Current Market Cap: SEK27.52B
For detailed information about LOOMIS stock, go to TipRanks’ Stock Analysis page.