Wincor Nixdorf has acquired Siemens’ information technology products and services (ITPS) division. The Manila-based company will now be named as Wincor Nixdorf Philippines and will operate as a full-fledged legal entity under the umbrella of the Wincor Nixdorf Group.
In past years, Siemens’ ITPS division has been the preferred partner and distributor for Wincor Nixdorf in the Philippines. ITPS developed a strong market position in the country by serving retail banks and retailers with Wincor Nixdorf’s software applications, services portfolio, automated teller machines (ATMs) and programmable electronic point of sales (ePOS) systems.
“Wincor Nixdorf is pleased to become the owner of this business after many years of cooperation with Siemens’ ITPS division and is excited about expanding our business and solutions offerings to such a strategically important market,” said Lim Khoon Hong, Asia-Pacific president and executive board member at Wincor Nixdorf.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.