Welcome!

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/.

Notes:

  • 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
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Discover top technologies and tools all under one roof at April 24–28, 2017, at the Westin San Diego in San Diego, CA. Explore the Mobile Dev + Test and IoT Dev + Test Expo and enjoy all of these unique opportunities: The latest solutions, technologies, and tools in mobile or IoT software development and testing. Meet one-on-one with representatives from some of today's most innovative organizations
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and E...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
The unique combination of Amazon Web Services and Cloud Raxak, a Gartner Cool Vendor in IT Automation, provides a seamless and cost-effective way of securely moving on-premise IT workloads to Amazon Web Services. Any enterprise can now leverage the cloud, manage risk, and maintain continuous security compliance. Forrester's analysis shows that enterprises need automated security to lower security risk and decrease IT operational costs. Through the seamless integration into Amazon Web Services, ...
Updating DevOps to the latest production data slows down your development cycle. Probably it is due to slow, inefficient conventional storage and associated copy data management practices. In his session at @DevOpsSummit at 20th Cloud Expo, Dhiraj Sehgal, in Product and Solution at Tintri, will talk about DevOps and cloud-focused storage to update hundreds of child VMs (different flavors) with updates from a master VM in minutes, saving hours or even days in each development cycle. He will also...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager - Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, reviewed next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discussed how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has been engaged in t...
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facing...