News
NRT Technology buys Canadian ATM processor TNS Smart Network
April 2, 2009
TORONTO — NRT Technology Corp. has acquired Toronto-based TNS Smart Network Inc. and Smart Processing Solutions Inc.
NRT is a privately owned company that provides cash-handling solutions, products and services to customers world-wide. NRT's products are used globally by casinos, lotteries and retailers. The company's line of QuickJack redemption ATMs handles self-service redemption services. NRT also provides turnkey applications for Jackpot redemption, ticket redemption, ATM cash services and other business-related applications.
According to a news release, the acquisition allows NRT diversifies its business, creating a synergy to provide additional solutions to meet customers' needs.
TNS is the largest ATM processor in Canada for non-bank branch ATM services. TNS services 143 independent sales organizations, representing some 12,000 ATMs throughout Canada performing more than 50 million transactions per year. SPS is primarily a technology company that licenses switch technology to non-Canadian ISOs. SPS's primary customer base is in the United States and extends as far as New Zealand.
"This acquisition is very exciting," said John Dominelli, NRT Technology's president and chief executive. "It creates an entirely new channel of business and technological capability for NRT and is highly complementary to our existing business and future plans. I truly believe that this acquisition will make NRT an even more successful company going forward."
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