Headquartered in Saint-Thibault-des-Vignes, east of Paris, with operations in a further 14 countries, Acrelec focuses on developing people-centred experiences through self-service kiosks, digital signage, mobile ordering and collection solutions.
With over 40,000 installations across more than 70 countries, Acrelec counts many of the world’s best-known restaurants and retail brands, including McDonald’s, Burger King, KFC, Walmart, Carrefour and Auchan, among its customers.
Glory, a 100-year-old industrial leader in cash management, currently provides the French company with cash automation technologies and process engineering services that handle cash flow through Acrelec’s kiosks.
The company will invest around $223 million in Acrelec to drive forward the deployment of Glory's innovative next generation ‘’smart-store’’ solutions.
Commenting on the deal, Tim Bird, corporate partner at Fieldfisher who led the team advising Glory Global Solutions, said:
"As a law firm with leading expertise in payment technologies, we were delighted to have the opportunity to assist Glory with this deal.
"Automation and AI-enabled processes are increasingly core to the success of modern companies and with more innovators looking to collaborate on commercial ventures, there is a growing need for specialised legal guidance in these areas.
"We would like to congratulate Glory Global Solutions and Acrelec on this exciting agreement and look forward to assisting Glory on the next phase of the deal."
Akihiro Harada, Chief Executive Officer at Glory Global Solutions, said:
"We see an increasing trend where consumers want to take more control over their in-store shopping and dining experiences.
"Acrelec offers consumers this control, through personally and contextually responsive self-service solutions. Our investment in Acrelec will help accelerate their pace of innovation to capitalise on this trend.”
Motozumi Miwa, President of GLORY Ltd, said:
“Acrelec’s success in self-service kiosks, click and collect solutions, and drive-through service optimization, together with their expertise in IoT and artificial intelligence, are directly aligned with Glory’s diversification and growth strategy.”
Glory’s investment in Acrelec is subject to review by Acrelec’s employee representatives, and applicable competition authorities.
A copy of Glory's announcement of the deal can be accessed here.
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