India-Business/Economy Hitachi Payments to acquire cash management business of Writer Corporation Chennai, July 26 : Integrated payment solutions provider Hitachi Payment Services Pvt Ltd will be acquiring the cash management business of India’s Writer Corporation.The American company Writer Corporation under its cash management business provides cash services including ATM cash replenishment and retail cash pick-up services to corporates since 2001.
The acquisition will enable Hitachi Payments to provide comprehensive ATM services to financial institutions, while on the merchant side it would complement Hitachi Payments’ digital offerings, a company statement said.Both the companies signing the agreement did not disclose the financial details of the transaction.
Writer Safeguard has a network of close to 40,000 touchpoints including ATMs and Retail spanning 25 states across 1,500 locations serviced by a workforce of over 10,000 people.Hitachi Payments is a 100 per cent subsidiary of Japan’s Hitachi Ltd.The Mumbai based Writer Corporation is a multi-business enterprise operating in Global Relocations, Information Management, ATM & Cash Management, Hospitality, Lifestyle and Premium Real Estate.vj
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