News
MEI Conlux buys currency-validation company
May 6, 2007
WEST CHESTER, Pa. — MEI Conlux, manufacturer of unattended-payments systems, has acquired VTI, a Las Vegas-based currency-validation products company.
According to a news release, the acquisition adds the VTI Vector and Matrix products to MEI Conlux's existing product portfolio, which serves the retail, transportation, amusement, vending and gaming markets.
This acquisition is reprtedly the first since the June 2006 purchase of MEI Conlux by Bain Capital and Advantage Partners.
"This acquisition is a logical progression in our relationship with VTI which began with a co-development project in 2005," said Mike Hayes, president and chief executive of MEI Conlux. "The combination of VTI's proven hardware with MEI's recognition technology will further our ability to provide high-quality, value-added solutions to our growing customer base worldwide."
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