Brink's Agrees to Sell Threshold Subsidiary to DirectCash for $50 Million Brinks to Retain Integrated Managed Services Business for ATM Customers
RICHMOND, Va., Oct. 28, 2013 /PRNewswire/ -- The Brink's Company (NYSE: BCO), a global leader in security-related services, announced today that it has agreed to sell its Threshold Financial Technologies subsidiary to DirectCash Payments Inc. (TXI: DCI) for $50 million. Under the terms of the agreement, DirectCash will acquire Threshold's private label ATM network and payment processing businesses in Canada. Upon completion of the transaction, Brink's will continue to own and operate Threshold's former integrated managed services business as Brink's Integrated Managed Services (Brink's IMS). The transaction, which is subject to customary closing conditions and is scheduled to close on or about October 31, is expected to generate a fourth-quarter gain from discontinued operations.
Brink's IMS was established in 2012 to offer its global customer base of financial institutions and retail clients solutions that improve the performance of their ATM networks and enhance the user experience for their customers. The Brink's IMS solution provides a single-source for ATM-related cash and device management services, including incident management and web portal services. These services enable customers to monitor networks in real time, detect and react to certain events, and improve cash forecasting. The Brink's IMS solution was launched recently in Europe.
Tom Schievelbein; chairman, president and CEO of Brink's, said: "From a strategic perspective, this transaction is a win for both Brink's and DirectCash. We're excited about the results from our initial IMS launch in Europe and committed to investing in additional growth opportunities to serve our global customer base."
About The Brink's Company
The Brink's Company (NYSE: BCO) is the world's premier provider of secure transportation and cash management services. For more information, please visit The Brink's Company website at www.Brinks.com or call 804-289-9709.
SOURCE The Brink's Company