The South Korean parent of ATM maker Nautilus Hyosung America Inc. this morning announced it has signed an agreement to purchase ATM manufacturer Triton Systems of Delaware Inc. for an undisclosed price. Dover Corp., Triton's owner, and Nautilus Hyosung Inc. expect to close the deal in the third quarter, according to Sam Hong, a manager in Nautilus Hyosung's marketing division. Nautilus Hyosung Inc. is a subsidiary of Hyosung Corp., a $7 billion diversified manufacturing company. Once the deal is complete, Nautilus Hyosung and Triton would control 70% of the $100 million of annual sales in the U.S. off-premise ATM-manufacturing market, says Leon Majors, president of Salisbury, Md.-based Phoenix ESP Payments Research Group. Triton notified employees of the pending purchase this morning during a company meeting, Alicia Blanda, Triton marketing projects manager, tells CardLine sister publication ATM&Debit News. The company employs 400 workers, including 300 at its manufacturing and administrative facility in Long Beach, Miss. "We think it's a good thing," Blanda says. "[Nautilus officials] said they would not make any changes." Nautilus Hyosung executives did not attend the meeting but have visited the plant several times. In a statement, Bill Johnson, Triton president and CEO, said, "We are very excited about Triton's future with Nautilus Hyosung." Pill Koo Ryou, president of Nautilus Hyosung Inc., said, "Triton is an ideal fit with Nautilus Hyosung as we expand our global footprint." Nautilus Hyosung America has a facility in Coppell, Texas.
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