Payment solution companies APG and Cash Bases announce merger
APG Cash Drawer and Cash Bases Group Limited, two worldwide cash drawer manufacturers and other POS related products, have announced the merger of both enterprises.
The union will form a leading cash management solutions company, with a combined international network of customers from the retailing industry, and a special focus on innovative technologies, according to the companies.
“We share a common heritage; we both have over thirty years of cash drawer experience and have deep seeded roots in our respective territories,” stated Mark J. Olson, President of APG Cash Drawer.
“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,” added Olson.
With a worldwide focus, the merger will bring Cash Bases´ SMARTtill cash management technology to North America, while APG will expand their presence and capabilities in the European marketplace.
“We are truly excited to bring these two great companies together,” stated Philip Stone, Managing Director of Cash Bases. “This merger is a strategic opportunity and will be a catalyst for accelerating innovative product development in the competitive and dynamic POS marketplace.”
The combined company’s corporate headquarters remains at the current APG location in Minneapolis, and Mr. Olson continues to serve as President and CEO at the corporate level, overseeing all of the company operations.