Glory, a Japan-based automatic vending machine manufacturing company, has completed takeover of Semeci, a cash automation solutions provider to the retail banking industry in Ireland.

With the acquisition of the assets of Semeci, who earlier traded as Cash Handling Systems, Glory launched direct sales and service presence in Ireland.

The acquired business will operate as a new subsidiary and will trade as Glory Ireland.

Commenting on the deal, Glory Global Solutions CEO Akihiro Harada said: “This acquisition supports Glory’s strategy of expanding our international business through providing sales and maintenance service directly to our end customers.

“This is very much in line with the company’s growth strategy, focussing more of our management resources on the expansion of our business beyond Japan.”

Glory president of Europe, Middle East and Africa Vincent Nakache said: “With Ireland experiencing a resurgent economic climate and a positive growth outlook, we believe the additional synergy and resources that a direct Glory presence offers, coupled with the relationships the existing team has in place, will bring many benefits both to existing and new customers.”

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Semeci director John Corcoran said: “The acquisition means that our customers will have direct access to the extended Glory team while enjoying continuity of the individual relationships we have nurtured over the years.”