LONDON – Glory Global Solutions, the international arm of Japanese cash handling giant GLORY Ltd. (TYO: 6457), announced Monday it has acquired the remaining equity shares of Acrelec Group SAS, taking full ownership of the France-based technology company.
The acquisition, which follows an initial investment in 2020, solidifies Glory’s strategy to expand its footprint in the food and beverage industry by integrating Acrelec’s digital customer engagement platforms with its own cash automation and payment systems.
“We recognise the continuing opportunities for growth capture in the food and beverage industry, so the time is right to take the next step and bring Acrelec fully into the Glory Group of Companies,” said Toshimitsu Yoshinari, President of Glory’s International Business, in a statement.
Acrelec specializes in digital menus, self-service kiosks and kitchen management systems for global restaurant brands, with over 120,000 installations in more than 70 countries. The company will now operate as a wholly-owned subsidiary.
The completion of the share acquisition also triggered the departure of Jalel Souissi, Acrelec’s co-founder and co-CEO. In the announcement, Glory thanked Souissi for his “pivotal role” and “instrumental” efforts in building the company.
Glory, which employs over 11,000 people globally, is a leading provider of cash technology solutions for financial, retail and gaming industries. The full acquisition of Acrelec is positioned to create a more comprehensive suite of products aimed at improving efficiency and customer experience for restaurant operators worldwide.
GLORY is a global leader in cash technology solutions, providing systems that optimize the handling, movement and management of money. With dedicated R&D and manufacturing facilities worldwide, the company serves businesses in more than 100 countries.
Acrelec is a global technology company focused on reinventing the customer experience for restaurant and retail brands. It develops and integrates hardware and software platforms designed to increase customer engagement and improve operational efficiency.