Acquisition of EFTPOS Limited
29 September 2004
Cadmus’ Channel Grows with Acquisition of EFTPOS Limited
Payment solutions company, Cadmus Technology Limited (NZX: CTL), today announced it has entered into an agreement to purchase Wellington-based EFTPOS dealership, EFPOS Limited.
Whilst Cadmus already operates its own Cadmus owned branch in Wellington, EFPOS Limited will remain as a separate operating entity, with its own sales, support and administration functions, and will continue to promote its current range of products as well as add the Cadmus range to its line up. Its acquisition will strengthen Cadmus’ existing distribution channel and will enable Cadmus to be more responsive to domestic customers.
“This is the first in a series of planned actions to further strengthen our distribution channel, complementing the other strategic building blocks that Cadmus put in place during the last twelve months,” says Cadmus Managing Director Ian Bailey. “Over that period Cadmus has acquired full rights to key intellectual property, streamlined its manufacturing and increased its warehousing to capitalise on forthcoming demand, introduced a number of new product lines and attained bank certifications. Cadmus also created a separate and independently located service arm to assist customers and channel partners.
“Taken together these actions provide us with a solid foundation from which to address the EMV opportunity. With our expanding channel we will now be able to offer customers a more complete solution. As EFPOS Limited will continue to operate as a standalone entity, it will be able to continue to sell the other suppliers products. At the same time they can buy from EFPOS Limited knowing that it has the full backing of the only local manufacturer of EMV-compliant terminals.”
“This agreement with EFPOS Limited represents a substantial addition to our distribution channel capability in the lower North Island,” says Cadmus Marketing Manager Wendy McPhail. “With this, and other planned enhancements to our channel, we will be extremely well-placed to capitalise on the forthcoming introduction of EMV.