Cennox acquires the StrongPoint Cash Security business
Cennox acquires the StrongPoint Cash Security business in a deal that provides banking and retail customers with an industry leading, fully end-to-end cash protection solution.
Cennox announces the acquisition of StrongPoint’s Swedish based Cash Security business. The deal, which completed on 18th December 2020, enables Cennox to offer customers with a comprehensive cash protection solution unrivalled in the industry.
The integration of the StrongPoint Cash Security business positions Cennox as the transformational lead in the Banking and Retail markets. Now capable of offering the widest scope of security products across the world, cements Cennox as the benchmark organization able to provide a fully integrated, end-to-end security solution alongside its existing suite of innovative security products.
Cennox is seen as the leading multi-vendor solutions business and trusted ‘go-to’ partner for many of the world’s leading financial and retail organizations looking to innovate their businesses.
The diversity of our service offering gives Cennox the competitive edge when engaging with customers. We believe our acquisition of the StrongPoint Cash Security business will enable us to connect our customers to a level of service which isn’t available anywhere else.
Clive Nation, Group CEO, Cennox
StrongPoint have grown their presence across Europe and Russia and will continue to focus on the retail technology side of their business, giving Cennox the opportunity to integrate the Cash Security business into their portfolio. Having a national footprint in the USA, Cennox expects significant growth in this market, with further exciting plans to expand into the Middle East and Asia.
We are now optimizing and streamlining our portfolio to enable us to focus on the retail technology segment, in particular in-store technologies and ecommerce solutions where we see long-term growth opportunities.
Jacob Tveraabak, Chief Executive Officer of StrongPoint
The acquisition will see StrongPoint staff based in Sweden, Norway, Russia, France and Belgium, join the Cennox Group with immediate effect. The deal also includes their manufacturing facilities in Sweden coming under the care of Cennox to ensure a speedy and seamless transition with no interruption of service and enable the teams to continue the fantastic work they have been doing.
Our colleagues at Cennox are excited to welcome the teams at StrongPoint. We are confident that our combined resources and talent will benefit our customers across the region and signal the start of new opportunities in the coming months.
Chetan Patil, Managing Director, Cennox Europe
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