APG Cash Drawer and Cash Bases Group Limited, the worldwide leaders in the manufacture of cash drawers, mobile cash drawer solutions and other POS integration related products, have announced merger of the two companies.
The UK-based companies announcement of merger is expected to create a leading cash management solution company, differentiated by its ability to deliver innovative technologies with an expanding customer base.
"We share a common heritage; we both have over thirty years of cash drawer experience and have deep seeded roots in our respective territories. This merger strategically positions us to serve our customers on a global scale and allows us to continue to execute on our long term vision of being the recognized leader in the cash drawer marketplace. The technologies of the two companies are very complimentary and bring an even greater choice to customers on a worldwide basis. This merger brings Cash Bases' highly innovative SMARTtill cash management technology to the marketplace, and expands the APG mass customization capabilities in the European marketplace. We aim to expand our global operating performance, supply chain, and technology capabilities by offering the most innovative cash management solutions for retail, grocery, hospitality, and convenience store industries," stated Mark J. Olson, President of APG Cash Drawer.
"We are truly excited to bring these two great companies together," stated Philip Stone, Managing Director of Cash Bases, adding, "We each share a commitment to excellence and a goal of continual improvement which will yield many synergies and benefits to our customers in the years ahead. This merger is a strategic opportunity and will be a catalyst for accelerating innovative product development in the competitive and dynamic POS marketplace. To meet the needs of today's connected consumer, we will expand our technical capabilities and footprint worldwide to provide customers with the leading-edge products they expect and desire. As ISO9000 certified companies, we both share a commitment to excellence and are dedicated to manufacturing solutions to help solve our customers' problems today and in the future."
The combined company's corporate headquarters remains at the current APG location in Minneapolis, and Olson continues to serve as President and CEO at the corporate level, overseeing all of the company operations.