Sydney-based international payments organisation Banktech has acquired leading systems provider Global Gaming Industries in a mutually beneficial consolidation.
Banktech Group P/L was established in 1991, and provides assorted products to hospitality, including ATMs, POS, CRTs (Cash Redemption Terminals) and Intelligent Safes through four subsidiary businesses: Banktech Australia, BTO Payments, Utopia Gaming Systems and EFTEX.
In 1998 it launched the CashConnect ATM network, becoming the first non-bank ATM deployer in the county. Today Banktech Australia owns over 15,000 terminals in Australia, South-East Asia and India, processing over A$1 billion worth of transactions a month.
Banktech’s Utopia Gaming Systems division acquired Global Gaming Industries (GGI) in a ‘synergy’ strategy that the group hopes will enhance its existing product and service repertoire.
“Global Gaming Industries is a strong business,” said David Glen, Group MD of Banktech. “It has a well-established technology platform, plus a dedicated team that will continue to develop new products and deepen our Group’s relationship with the hospitality and gaming industries.”
GGI began around the same time, over 25 years ago, and has grown to become the dominant provider of gaming, analytical and loyalty systems in the NSW hotel and small club market, and has begun expansion into other states and territories.
GGI will continue to operate as an independent and complementing division of Utopia, giving it the resources to further explore its own key markets.
“Having Banktech behind us gives us the financial strength to further invest in research and development, as well as deliver an innovative and expanded range of products to our customers,” says managing director, Scott Macdougall.