 "CMS Info Systems acquires ATM business of Logicash Solutions in India")
Reflecting consolidation in the payments and cash management space, CMS Info Systems (CMS), backed by Baring Private Equity, has acquired the ATM business of Logicash Solutions (Logicash) in India.
After the acquisition, the number of its ATMs is 72,000 from 62,000 earlier.
The acquisition happened during the peak pandemic months and was completed with no loss of business or interruption in operations, said vice-chairman and wholetime director Rajiv Kaul.
NISA Group, predominantly in security management, had bought Logicash for about Rs 100 crore in 2016 and the valuation of the company has remained the same in the past years, sources
