Brinks (BCO) Acquires Kheops in $17M Deal
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The Brink’s Company (NYSE: BCO), has announced its acquisition of Kheops, SAS, a provider of logistics software and related services, for approximately $17 million. The acquisition gives Brink’s proprietary control of software used primarily in its cash-in-transit and money processing operations in France. Brink’s intends to continue developing the software for internal use in France and certain other countries in which it operates.
Brink’s France, which had revenue of $533 million in 2010, was Kheops’ primary customer prior to the acquisition. Future development efforts will be dedicated exclusively to Brink’s operations.
The transaction is expected to be earnings-neutral in 2012 and accretive to earnings in 2013.
Brink’s France, which had revenue of $533 million in 2010, was Kheops’ primary customer prior to the acquisition. Future development efforts will be dedicated exclusively to Brink’s operations.
The transaction is expected to be earnings-neutral in 2012 and accretive to earnings in 2013.
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