Payments

Loomis AB to acquire Burroughs

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May 7, 2025

Loomis AB, a cash handling company, will acquire Burroughs, a lifecycle management services company for ATMs, smart safes, kiosks and other devices. The initial purchase price will be $72 million and is part of Loomis' strategy to improve its ATM and automated solutions services, according to a press release.

"The acquisition of Burroughs is a significant step in broadening our services surrounding ATMs and automated solutions in the U.S. Together we will offer a comprehensive full-service ATM solution, covering both first- and second-line maintenance," Aritz Larrea, president and CEO, Loomis, said in the release. "This will enable us to provide more services to existing customers and expand our addressable market, thereby capturing a higher market share. By leveraging our combined customer base and gaining better control of the service supply chain, we position ourselves for profitable growth. Our adjacent services have been instrumental in our growth journey, and we are committed to continuing this trajectory."

The deal is expected to be closed during Q2 2025.

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Burroughs, Inc.

As the largest independent services provider in North America, Burroughs delivers comprehensive lifecycle management for the full range of payment and transaction automation, unattended self-service technology, robotic automation systems, and other connected IoT devices through our integrated Burroughs Digital Platform.

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