India: AGS Transact to set up 5,000 ATMs

AGS Transact Technologies Ltd (ATTL), an ATM outsourcing and systems integration company, plans to set up 5,000 ATMs in the next 18 months and double headcount to 2,600 by March 2013 to support its expansion plans.

The company is setting up about 300 units every month. The capital expenditure for expanding the ATM network is pegged at Rs 450-500 crore. Managing Director Ravi Goyal said the expenditure would be funded through equity, debt finance and vendor financing.

The AGS group offers technology-based solutions for four segments. First is banking, which includes managing ATMs for banks, cash deposit and re-cycling machines. It has a technical tie-up Wincor- Nixdorf AG of Germany.
The second line of business is retail, which involves setting up and managing point-of-sale billing terminals and store automation peripherals. The third is petroleum, which focuses on retail outlet automation, including automatic tank gauging systems and fuel dispenser interface. The fourth is the total colour solution division which deals with manufacturing and distributing paint dispenses as well as rotary screen engraves.

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