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Nautilus Hyosung Inc.'s pending purchase of Triton Systems of Delaware Inc. would enable the combined companies to compete better with the world's three largest ATM manufacturers, a top executive of Nautilus Hyosung's parent told Triton employees last week. "This acquisition will allow us to further expand as a global company and to better position ourselves to complete with the top three ATM manufacturers," H.S. Cho, executive vice president of corporate strategy for Seoul, South Korea-based Hyosung Group, notes in a Nautilus news release. "We feel that this will benefit our customers, our employees, our company and the U.S. economy." The world's three largest ATM manufacturers based on 2007 shipments are U.S.-based NCR Corp., Germany-based Wincor Nixdorf International GmbH and U.S.-based Diebold Inc., according to London-based Retail Banking Research. Cho, Nautilus Hyosung CEO P.K. Ryou and other company executives met with Triton employees at the company headquarters and manufacturing facility in Long Beach, Miss. Nautilus Hyosung last month announced it reached a deal to purchase Triton from parent Dover Corp. for an undisclosed price. The deal is scheduled to close this month. "We believe Triton will provide a solid basis for growth when it strengths are combined with Nautilus'," Ryou said. "We respect Triton's people, its brand and it operations, and it is our sincere intention to maintain them and seek ways to reinforce them." Nautilus Hyosung executives also met with their Triton counterparts and senior staff to develop strategies and initiatives aimed at benefiting customers. The meeting occurred a week after Carlos Siewczynski, vice president of North American retail self service for Nautilus Hyosung America Inc., the U.S. subsidiary of Nautilus Hyosung, said the company would pursue the U.S. bank ATM market (CardLine Global, 20 Aug.).
