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Nautilus Hyosung Inc., a South Korea-based ATM manufacturer that is scheduled to complete its purchase of competitor Triton Systems of Delaware Inc. next month, plans to step up its efforts to sell ATMs to banks and other financial institutions in the United States, a Nautilus Hyosung America executive tells CardLine Global sister publication ATM&Debit News. Most of the company's revenue, which was almost US$400 million (270.4 million euros) in 2007, comes from selling ATMs to banks in Asia and Europe, says Carlos Siewczynski, Nautilus Hyosung vice president of North American Retail Self Service. Nautilus Hyosung Inc. owns Nautilus Hyosung America Inc., which has offices in Coppell, Texas. Nautilus last month agreed to buy U.S.-based Triton from its parent, Dover Corp., for an undisclosed price. Nautilus Hyosung America plans to continue selling off-premise ATMs in the United States while also pursuing bank ATM sales. Last year, Nautilus Hyosung America shipped 14,433 ATMs, and Triton shipped 10,454 machines. The two companies primarily sell to the retail off-premise market, but Nautilus Hyosung achieved some success selling ATMs to national banks. Nautilus Hyosung America sold an undisclosed number of ATMs to Citibank, which operates the eighth-largest U.S. bank-owned ATM network. Nautilus Hyosung America's Citi agreement represented a breakthrough for off-premise ATM manufacturers, industry observers say. In other news, Nautilus Hyosung America is interviewing candidates for vice president of financial industry sales. Nautilus also says it plans to keep the Triton name for the time being.
