CMS Info Systems acquires FSS ATM management business for ₹115 crore

The deal will add nearly 8,000 units and new private sector banking ties, strengthening CMS Info Systems' managed services portfolio and advancing its ATM solutions consolidation strategy

CMS Info Systems on Sunday announced the acquisition of the ATM Managed Services business of Financial Software and Systems Private Limited (FSS) for ₹115 crore. The transaction is expected to close in Q1 FY27.

 

The deal involves the transfer of operating assets and the novation of customer contracts. It will add nearly 8,000 units and introduce new private-sector banking relationships, aligning with CMS’s publicly stated consolidation strategy and expanding the depth of its three business service platforms.

 

This acquisition will increase the managed services portfolio of CMS Infosystems from approximately 31,000 to 39,000 units, distinct from the approximately 68,000 machines CMS services through its currency logistics operations. Retail Solutions & Currency Logistics and Technology & Payment Solutions complete the platform, with the latter including its VisionAI solution, HAWKAI.

   

At its Analyst Day in September 2025, CMS Info Systems outlined a programmatic approach to mergers and acquisitions, with consolidation in ATM Management Solutions as a key strategic lever. This acquisition delivers on those objectives.

 

CMS’s ATM Management Solutions business, in which it acts as an end-to-end technology and operations partner for bank networks, generated approximately ₹1,300 crore in service revenue in FY25, with an expected CAGR of 11 per cent through FY30.

 

Speaking on the transaction, Rajiv Kaul, Executive Vice Chairman and CEO, said: “This acquisition is consistent with the playbook for our 2030 goals, which we shared six months ago. The managed services industry is consolidating, and we are well-positioned to be the platform of choice as banks look to work with fewer, larger, and more capable partners. FSS’s clients are exactly the kind of relationships we want to deepen, and bringing them onto our platform opens the door to serving them across our full suite of services.”