Cherry Tree Advises Glory Global Solutions on its Acquisition of Revolution Retail Systems
GLORY Announces Plan to Acquire Revolution Retail Systems LLC
Combined strength will accelerate development, innovation and breadth of cash automation solutions
LISLE, Ill.–(BUSINESS WIRE)–Glory Global Solutions Inc., a global leader in cash technology solutions, today announced it has made an offer to acquire Carrollton, TX based Revolution Retail Systems LLC (Revolution). Subject to GLORY and Revolution obtaining the necessary clearances, the ultimate ownership of Revolution will transfer to Glory Global Solutions Inc. The combined portfolio of cash automation products will form the largest and most diverse set of solutions in the industry.
Chris T Reagan, President Glory Global Solutions, Americas and Senior Executive Officer GLORY LTD. said, “We believe the clear winners in this acquisition are our customers. Our combined organizations will deliver more value and innovation to the market at a time when cash automation is critically needed to provide efficiency, connectivity and security. Revolution’s focus and success in the retail segment will enable us to immediately deliver an expanded portfolio of solutions and even greater business impact for our customers.”
“We believe that this acquisition by Glory comes at the perfect time. Revolution and Glory complement each other in so many strategic and operational areas, as well as placing significant value on our people, culture and history.”
Mark Levenick, President & CEO, Revolution Retail Systems LLC welcomes the opportunity this acquisition will enable saying, “We believe that this acquisition by Glory comes at the perfect time. Revolution and Glory complement each other in so many strategic and operational areas, as well as placing significant value on our people, culture and history.”
As a global leader in cash technology solutions, we provide the financial, retail, QSR, cash center and gaming industries with confidence that their cash is protected and always working to help build a stronger business.
Our cash automation technologies and process engineering services help businesses in more than 100 countries optimize the handling, movement and management of cash. While we span the globe, we personally engage with each customer to address their unique challenges and goals — enhancing staff efficiency, reducing operating costs and enabling a more rewarding customer experience.
Employing over 11,000 professionals worldwide with dedicated R&D and manufacturing facilities across the world, GLORY is built on a rich customer-focused, technology-driven heritage spanning almost a hundred years.
About Revolution Retail Systems, LLC:
Revolution’s management expertise spans 35 years in the retail and cash management industry. Revolution is the leader and innovator in the design of cash management solutions for the broad retail marketplace. This unique focus has led to deployment of equipment into hotels, universities, big box retail, grocery, casinos, airports, and truck stops nationally and internationally. The unique challenges in our market segments are supported by our 24/7 – 365 monitoring and support center and nationwide field service.
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SOURCE: Business Wire
Cautionary note regarding forward-looking statements.
This announcement includes forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Such statements are based on current expectations, and actual results may differ materially. The forward-looking statements in this announcement are subject to a number of risks and uncertainties including, but not limited to, the possibility of continuing operating losses, the ability to adapt to rapid technological change, cost and difficulties we may face in integrating the businesses of XATA and GeoLogic Solutions, dependence on positioning systems and communication networks owned and controlled by others, the receipt and fulfillment of new orders for current products, the timely introduction and market acceptance of new products, the ability to fund future research and development activities, the ability to establish and maintain strategic partner relationships, and the other factors discussed under “Risk Factors” in Part IA, Item 1 of our Annual Report on Form 10-K for the fiscal year ended September 30, 2008 (as updated in our subsequent reports filed with the SEC). These reports are available under the “Investors” section of our Web site at www.xata.com and through the SEC Web site at www.sec.gov. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them in light of new information or future events.