Brink's Acquires Payments Technology Provider
The Brink's Company (NYSE: BCO), a global leader in security-related services, announced its acquisition of Threshold Financial Technologies Inc. from Versent Corporation for approximately $40 million. Based in Mississauga, Canada, Threshold is a leading provider of payments solutions, specializing in managed ATM and transaction processing services for financial institutions and retailers throughout Canada. The acquisition, which should have minimal impact on 2011 earnings, is expected to be accretive to earnings in 2012.
Threshold's annual revenue is approximately $48 million, about half of which is generated by providing outsourced ATM network administration and transaction processing solutions. The company, which employs approximately 125 people, also owns and operates a network of private-label ATMs in Canada.
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