CMS Info Systems Expands ATM Management Footprint with Key Acquisition

CMS Info Systems has announced the acquisition of Financial Software and Systems' managed services business for Rs 115 crore. This strategic move will boost CMS' ATM management operations by adding 8,000 machines and expanding private sector banking relationships, expected to complete by Q1 FY27, enhancing its service portfolio.

CMS Info Systems has fortified its market position by acquiring the managed services business of Financial Software and Systems (FSS) for Rs 115 crore, the company announced on Sunday. This acquisition is poised to enhance CMS' domain in end-to-end ATM management services.

The transaction, slated for completion by Q1 FY27, will add an impressive 8,000 ATMs to CMS' management solutions portfolio, driving the company's total to 39,000. This expansion marks a significant step in strengthening CMS' role as a technology provider and operations partner for banks.

Rajiv Kaul, CMS' Executive Vice Chairman and Chief Executive, emphasized the importance of this acquisition in aligning with the company's strategic expansion plans. He noted the consolidating nature of the managed services industry, underscoring CMS' commitment to deepening client relationships and broadening service offerings substantially.

(With inputs from agencies.)