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U.S. Department of Justice attorneys still have not signed off on a deal allowing South Korea-based ATM manufacturer Nautilus Hyosung Inc. to purchase competitor Triton Systems of Delaware Inc. Nautilus Hyosung and Dover Corp., Triton's New York-based parent, announced they had reached an agreement concerning the sale for an undisclosed price on July 29. Dover and Nautilus Hyosung executives at the time said the deal would close Oct. 1. Coppell, Texas-based Nautilus Hyosung America Inc., which is owned by Nautilus Hyosung Inc., says it is still waiting for approval from Justice Department attorneys. "At this time, the acquisition is still pending regulatory approval by the DOJ," Carlos Siewczynski, vice president of North American Retail Self-Service Division of Nautilus Hyosung America, tells ATM&Debit News, a CardLine sister publication. A Justice Department spokesperson declined to comment. James Phillips, director of North American sales at Triton, which is based in Long Beach, Miss., says Nautilus Hyosung's lawyers are continuing to work with Justice Department attorneys to answer all their questions. "Both sides of the equation [Nautilus Hyosung and Triton] are very committed to the deal," Phillips says. If the Department of Justice agrees to the deal, the combined companies would control 70% of the $100 million-a-year off-premise ATM market, says Leon Majors, president of the Payments Systems Practice at Phoenix ESP Payments Research Group in Salisbury, Md. The agreement also would help Nautilus Hyosung enter the more-lucrative market of selling ATMs to U.S. banks and credit unions.
