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Posiflex to acquire Kiosk Information Systems

August 24, 2016

Posiflex, a Taiwan-based point-of-sale terminal company, has entered a purchase agreement with Kiosk Information Systems. Posiflex will offer $105 million to purchase all shares of the company, according to a press release.

Posiflex intends to use this acquisition to expand its influence in the Internet of Things market and offer Kiosk's end-to-end self-service solution, which provides custom engineering, manufacturing and software development. The company also plans to use IoT transaction data to develop customized POS marketing, according to the release.

"By combining Posiflex and Kiosk's dual-value proposition in this domain, we are confident in emerging as a distant leader in this growing market," Posiflex CEO Owen Chen said in the release.

The current management team for Kiosk will not be restructured as part of the acquisition. Kiosk CEO Tom Weaver will join the board of directors for Posiflex and Kiosk.

"We firmly believe that joining forces with Posiflex fully supports our growth objectives and represents the best interests of our customers and employees," Weaver said. "Having overnight access to Posiflex's international presence and complementary technology resource adds distinct competitive advantage and differentiation. This combined scale opens new doors to growing world markets and further advances Kiosk's ability to provide comprehensive and state-of-the-art solutions."

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KIOSK Information Systems

KIOSK Information Systems is a world leader in self-service solutions because of its long history delivering proven expertise in design engineering and manufacturing, application development, integration, and comprehensive support services.

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