11th Jul 2016 14:54
LONDON (Alliance News) - Security company G4S PLC has agreed to sell its ATM services business to International Business Machines Corp, the Telegraph reported.
The sale is part of a efforts to stabilise G4S's finances, after it said in March it would sell more businesses over the next two years to make up some of the losses it has made on contracts that had cost more than expected.
As part of the deal, some of G4S' engineers and support staff over to IBM, and G4S will maintain a presence servicing the cash machines.
Shares in G4S were up 2.4% at 177.80 pence Monday.
http://www.telegraph.co.uk/business/2016/07/10/embattled-g4s-to-sell-cash-machine-operation-to-reduce-debts/
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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