Monday, September 25, 2023

Prosegur Cash completes merger with Armaguard in Australia

Prosegur Cash, a leader in cash transportation and management, and Linfox Armaguard, Australia’s leading valuables logistics company, have completed the merger of their cash management businesses. The combination of the two companies, the country’s two largest in the industry, represents a significant achievement in managing and distributing cash in Australia, ensuring access to cash in the country’s economy, and creating new business opportunities.

This combination of cash transportation services, cash management, technical services and ATM networks represents a major development in cash management and transportation in Australia, creating the benchmark company in the industry with nearly 4,000 employees, nearly 700 vehicles dedicated to operations and more than 50 3,000 employees Cash processing centers spread across the country.

It should be noted that cash continues to be an integral part of Australian society, and Prosegur and Armaguard’s intention is to support the ever-evolving needs of their customers and society by building a reliable and sustainable network.

With this in mind, the merger ensures that cash remains a profitable and secure payment option for businesses and consumers, allowing it to continue to play its role in protecting privacy, freedom of choice, and access to payments for all in Australia.

The new company will result in sales of almost half a billion Australian dollars, which should be exceeded with estimated growth plans for the coming years. In addition, the company operates the second-largest independent ATM network in the country, with almost 2,500 ATMs.

Jose Antonio Lasanta, CEO of Prosegur Cash, stated: “This operation marks the beginning of a new stage in the history of Prosegur Australia and a new milestone in the industry due to its size and the breadth of the range of services it offers to society, including, but not limited to, wealth management, cash, ATM network management, and central bank services, offering the full cash cycle for the first time in a country as important as Australia.

The merger combines the strengths and experiences of both companies with the aim of ensuring a more sustainable future in the fields of transport and cash management in this country. We are very pleased that both companies can enhance our ability to provide excellent service to society at the lowest possible cost, thereby playing our part in ensuring the smooth running of commerce and the freedom of citizens.”

World Nation News Desk
World Nation News Desk
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