PLYMOUTH — Burroughs Inc., the Plymouth-based financial services technology provider, announced the acquisition of Pendum LLC, a Chicago-based provider of ATM services and equipment for financial institutions.
Terms of the tranaction weren’t disclosed.
Burroughs provides maintenance services, document and payment-processing image technology, and cash-automation solutions to financial institutions and retailers.
“The combination of the companies’ resources, along with their national and local presence, will deliver a more comprehensive set of products and services to the ATM market,” said Burroughs CEO Alan Howard. “Pendum’s Management team has done a good job of building a solid and successful operation and bringing top quality services to the ATM market. The integration of Pendum into Burroughs expands our product and maintenance services footprint and further demonstrates our commitment to be the ATM maintenance services market leader.”
Burroughs spokesman Rob Evans said the major advantage of the acquisition to Burroughs will be the addition of about 700 service technicians in the field, making Burroughs “the largest vendor-agnostic service organization for financial institutions in the U.S.” He said Burroughs plans to add the Pendum employees to its base of about 1,000 employees.
Burroughs is owned by Marlin Equity Partners, a Los Angeles, Calif.-based investment firm with more than $3 billion of capital under management.
More at www.burroughs.com and www.pendum.com.