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CMS Info Systems Buys FSS ATM Business for ₹115 Crore
29 Mar
Summary
- CMS Info Systems acquires FSS's ATM managed services for up to ₹115 crore.
- The deal is anticipated to conclude by the first quarter of FY27.
- CMS's managed services portfolio will grow from 31,000 to 39,000 units.
Business services firm CMS Info Systems has agreed to acquire the ATM-managed services business of Financial Software and Systems Pvt Ltd (FSS). The purchase consideration for this transaction is set at a maximum of ₹115 crore. This strategic deal encompasses the transfer of operating assets and the novation of existing customer contracts.
CMS anticipates the completion of this acquisition within the first quarter of the fiscal year 2027. Rajiv Kaul, Executive Vice Chairman and CEO of CMS, stated that this acquisition is a key component of the company's long-term growth strategy and its 2030 objectives.
Kaul further noted that the managed services industry is currently undergoing consolidation. CMS is positioning itself as a leading platform for banks seeking larger, more capable partners. The acquisition of FSS's client base is considered highly strategic, expected to boost CMS's managed services portfolio from approximately 31,000 units to 39,000 units. This expansion is separate from the 68,000 machines CMS services under its currency logistics operations.
