Loomis pays EUR 42M for Automatia from Finland.

Loomis AB, a Stockholm, Sweden-based public company handling cash transactions, announced that it entered into an agreement to acquire 100 percent of Automatia Pankkiautomaatit Oy (Automatia).

The deal was made with owners Danske Bank, Nordea, and OP Financial Group at an enterprise value (purchase price plus acquired net debt), of approximately EUR 42 million ($47M).

Automatia, founded in 1994, operates the largest ATM network in Finland, under the Otto brand, and also offers nationwide cash supply services for bank branches, night safes for retailers and a digital platform for operating instant payments.

The company has 30 employees and  sales of approximately EUR 42 million in 2019.