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OKI starts operations at new ATM business in Brazil

OKI has completed share purchase of the ATM business including banking, retail automation and services from Itautec S.A.- Grupo Itautec (Itautec).

OKI has acquired 70% stake of the new company which has been established through Itautec’s company split. The new company, OKI Brasil S.A, has started operations effective January 10, as part of the OKI Group. In order to further expand its overseas business and help accelerate business growth, OKI has established an ATM business company that includes banking as well as retail automation, and services in Brazil. “We are pleased to have completed the agreement with Itautec,” says Hideichi Kawasaki, President of OKI. “I am confident that the OKI-nurtured ATM business will continue to expand in Latin America by capitalizing on strengths of both companies. The establishment of OKI Brasil S.A demonstrates OKI’s commitment to grow its overseas business, at the same time, aim for top ATM market share by providing dedicated support through banking and retail automation services in Brazil. This will also enforce OKI’s future growth which is part of OKI’s Mid-term Business Plan.” Moving forward, OKI will develop its ATM business in Latin America through designing, developing, manufacturing and offering maintenance services under the OKI brand.
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