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Loomis Closes EUR 42m Acquisition of Finnish ATM network Automatia
Thursday 03 December 2020

Sweden-based Loomis AB has closed the acquisition of Finnish ATM network Automatia Pankkiautomaatit Oy (Automatia), operating under the Otto brand, for EUR 42m (USD 46m), the company said.

The deal was announced in February.

Automatia was acquired from present owners Danske Bank, Nordea and OP Financial Group.

As part of the transaction, the sellers will commit to new long-term service agreements and continue to be significant customers of Automatia.

The acquisition will enable Loomis to expand its ATM outsourcing services. As its new owner, Loomis will continue to develop Automatia's businesses and will use Automatia's know-how and payment platform internationally.

Automatia operates the largest ATM network in Finland, under the Otto brand, and also offers nationwide cash supply services for bank branches, night safes for retailers and a digital platform for operating instant payments.
Date Published: 03/12/2020