ARCA announces acquisition of CTS
Acquisition bolsters ARCA’s global presence in the cash automation industry
MEBANE, NC (December 22, 2014) — ARCA, a global leader in cash automation and payment technologies, announced today that it has acquired the CTS Group, an Italian provider of cash, check and card automation technologies.
The acquisition combines CTS’s proven engineering and R&D capabilities with ARCA’s strong commitment to the customer. The combined company will provide banking and retail clients around the world with customer-driven solutions based on cutting-edge technology.
“For the past 12 years we have worked hand-in-hand with CTS, bringing their transformative technology to our customers throughout North America,” said Mort O’Sullivan, ARCA’s Founder and CEO. “By joining forces, we will be able to respond faster to market changes while developing products and services to better meet the needs of our customers.”
Based in Ivrea, Italy, the CTS Group has sold over one million banking peripherals globally and pioneered cash recycling and check imaging technology. The town of Ivrea, located in the Turin province, has a rich history as home to renowned technology companies including Olivetti, which is known for creating the world’s first commercially produced personal computer. CTS was founded in 1980 by a team of former Olivetti employees.
“ARCA is excited to invest in Ivrea’s rich engineering history and the legacy created by Olivetti, which gave birth to the success of CTS,” O’Sullivan said. “We expect it to be ARCA’s center of excellence for technology and drive growth for years to come.”
With the purchase, ARCA has acquired the CTS Group’s operations in Italy, the United Kingdom, and the United States. The CTS Group consists of the following companies: CTS Electronics, CTS Cashpro, CTS Solutions, CTS Cashpro Ltd., CTS North America, and Finsolint. ARCA’s global headquarters will continue to be based in Mebane, North Carolina.
“This acquisition expands ARCA’s product portfolio, deepens research and development capabilities, and solidifies our supply chain,” O’Sullivan said. “We are excited about the future and see this as the next step in the growth of our company.”
ARCA’s solutions help people control and streamline cash operations in financial institutions, retail stores, and self-service kiosks around the world. We develop technology and services that make transactions simpler, more efficient and more secure. Visit arca.com for more information.
About the CTS Group
Established in 1980, the CTS Group is a leading global manufacturer and distributor of automated devices. The company operates in various sectors, from banks to retail to public administration, and has specific know-how in the design and development of products with a high technological content. The product portfolio includes: document and check processing solutions, coin and banknote recyclers, automatic deposit systems for checks and banknotes, desktop embossers for financial card instant issuance and OEM modules.