JCM finalises acquisition of FutureLogic
U.S.-based JCM Innovation Corp on Tuesday announced it has finalised the acquisition of FutureLogic Inc.
FutureLogic, based in the U.S., provides printers for a wide range of applications, including the creation of player vouchers for casinos and other gaming operators.
JCM Innovation is part of Tokyo-listed Japan Cash Machine Co Ltd. The parent had previously said in a statement the deal was worth US$70.6 million, excluding advisory fees.
The statement added that FutureLogic had sales worth US$47.2 million in 2013, up by 9.5 percent in year-on-year terms.
JCM Innovation, a subsidiary of JCM American Corp, otherwise know as JCM Global, acquired FL Group LLC, doing business as FutureLogic, from Nasdaq-listed private equity firm American Capital Ltd.
The acquisition, first announced on August 4, adds to JCM’s line of peripheral component products, including bill validators, printers and digital media.
JCM designs and manufactures currency validating equipment and cash registers, also serving the gaming industry.
“With this acquisition finalised, we are able to expand our portfolio to further increase our level of customer service,” JCM Global vice president of sales Mark Henderson said in a statement.
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