Glory Global Solutions makes significant investment in Acrelec

UK-based cash technology solutions venture Glory Group is set to become a major investor in French company Acrelec after plunking down $223 million.

Acrelec focuses on developing kiosks, drive-through and self-checkouts for such restaurants and retailers as McDonald’s, Burger King, KFC, Walmart, Carrefour and Auchan. It has been working with Glory over the past few years on the likes of self-ordering kiosks that allow both cash and credit payments.

“We recognised that there was a strong fit in our cultures and ambitions as well as complementary solutions that we bring to market. We see an increasing trend where consumers want to take more control over their in-store shopping and dining experiences,” says Akihiro Harada, CEO at Glory Global Solutions.

“Acrelec offers consumers this control, through personally and contextually responsive self-service solutions. Our investment will help accelerate their pace of innovation to capitalise on this trend. We will also work together to ensure continued choice in customer payment, including the integration of Glory’s cash automation solutions to extend the range of payment options for consumers using Acrelec self-order and pay kiosks.”

It will be business as usual in regards to Acrelec’s management team and employees, its brands, research centres and factories around the world. Glory says that it will help out on the sales and services side of things.

The investment is subject to review by Acrelec’s employee representatives and competition authorities.