News Feed Item

OKI Starts Operations of Its New ATM Business Company in Brazil

OKI (TOKYO:6703) today announced that the company has completed share purchase of the ATM business including banking, retail automation and services from Itautec S.A.- Grupo Itautec (Itautec). OKI has acquired 70% stake of the new company which has been established through Itautec’s company split. The new company, OKI Brasil S.A, has started operations effective January 10, as part of the OKI Group.

OKI’s Mid-term Business Plan 2016 announced on November 12, 2013 sets expansion of overseas businesses as one of the most important management strategies. Within its ATM business, OKI’s cash-recycling ATM has a strong track record in China, Russia and Indonesia. In order to further expand its overseas business and help accelerate business growth, OKI has established an ATM business company that includes banking as well as retail automation, and services in Brazil.

Itautec's Automation and Services division is the second largest ATM manufacturer in Brazil, holding approximately 30% of the market share with leading clients such as Itaú Unibanco, which is the largest private bank in Latin America. Headquartered in Brazil, Itautec's Automation and Services division has a manufacturing facility in Brazil, 3,700 service sites throughout the country and sales operations in Argentine and Mexico. The division designs, develops, manufactures, sells and maintains automation equipment such as ATMs and other IT equipment.

“We are pleased to have completed the agreement with Itautec,” says Hideichi Kawasaki, President of OKI. “I am confident that the OKI-nurtured ATM business will continue to expand in Latin America by capitalizing on strengths of both companies. The establishment of OKI Brasil S.A demonstrates OKI’s commitment to grow its overseas business, at the same time, aim for top ATM market share by providing dedicated support through banking and retail automation services in Brazil. This will also enforce OKI’s future growth which is part of OKI’s Mid-term Business Plan.”

Moving forward, OKI will develop its ATM business in Latin America through designing, developing, manufacturing and offering maintenance services under the OKI brand. OKI aims to expand market share by drawing on the establishment of the new company that will assume Itautec’s extensive customer base and maintenance network.

[Overview of OKI Brasil S.A]

Company name: OKI Brasil Indústria e Comércio de Produtos e Tecnologia em Automação S.A.
Address: State of São Paulo, Brazil
Effective date: January 10, 2014
Capital Approx 200 million Real (70% by OKI Electric Industry, 30% by Itautec S.A.- Grupo Itautec)
Representative: Yoshiyuki Nakano, President and Representative Director (Effective March 2014)
Employees: Approx. 4,000 personnel (consolidated base)
Operation: Design, develop, manufacture, sell automated equipment and provide services.

About Itautec

Itautec S.A. is a Brazilian company that develops and sells products and solutions in banking automation, retail automation, computers and services through three business units: Automation Solutions (banking, with ATMs and bank teller terminals; retail, with POS Point-of-Sales (POS) solutions, self-service terminals and software platforms), Computer Solutions (desktops, notebooks, netbooks and servers), and Technology Services (technical support, installations and maintenance services). Itautec has the 10th largest installed base of ATMs worldwide and the third largest in Latin America, as reported by Retail Banking Research, a British consulting firm.

About OKI Electric Industry (OKI)

Founded in 1881, OKI Electric Industry is Japan's leading telecommunications manufacturer in the Info-telecom field. Headquartered in Tokyo, Japan, OKI provides top-quality products, technologies, and solutions to customers through its info-telecom systems, such as IP-PBX and call center systems, and printer operations. As a leader in ATMs, OKI holds the top share in the Japanese and Chinese cash-recycling ATM markets. Visit OKI's global website at http://www.oki.com/.


  • The names of the companies and products mentioned in this document are the trademarks or registered trademarks of the respective companies and organizations.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve fu...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER give you detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPO also offers s...