News

Tidel, Fujitsu-ICL sign OEM agreement

March 6, 2002

LA JOLLA, Calif. -- Fujitsu-ICL Systems Inc., the North American supplier of Fujitsu products for financial services, retail and commercial handheld applications, and ATM manufacturer Tidel Technologies Inc. (Nasdaq:ATMS) have signed a strategic Original Equipment Manufacturer (OEM) agreement whereby Fujitsu-ICL will supply bill dispensers to Tidel for inclusion in its Ignition series and Chameleon series ATMs.

The agreement, estimated to be worth $10 million in its first year, is Fujitsu-ICL's first partnership agreement as an OEM and Tidel's first strategic supply agreement for its new products.

"Fujitsu already is one of the world's top manufacturers of full-scale, Web-enabled ATMs, and this partnership with Tidel signals our intent to become a leading OEM supplier in the ATM components market," said Ron Omohundro, executive vice president and general manager for Fujitsu-ICL's products division.

"We demand quality and expertise in cash-handling technology, which is why we selected Fujitsu-ICL as our hardware partner," said Mark K. Levenick, chief operating officer of Tidel. "Fujitsu produces intelligent and reliable units that make the dispensing of cash and other media quick and consumer-friendly."