Loomis AB has, through its wholly owned subsidiary Loomis Digital Solutions AB (Loomis Pay), acquired 100 percent of Electronic Dreams S.L. (\u201cHostelt\u00e1ctil\u201d). The acquisition is in line with Loomis\u2019 communicated ambitions to add complementary digital solutions to the product offering and expand the market presence is Spain, a market with strong potential for Loomis\u2019 digital solutions. The purchase price is up to EUR 4 million.<\/p>\n
Hostelt\u00e1ctil is a Spanish Point-of-Sale (\u201cPOS\u201d) developer and solutions provider focusing on the Food and Beverage segment.<\/p>\n
The company was founded in 2003 and has 18 employees. In addition to its own direct sales presence in Valencia, Madrid and Barcelona, the company has a comprehensive network of sales partners with full coverage of the Spanish market.<\/p>\n
\u201cWith 20 years in the business, Hostelt\u00e1ctil has a vast know-how of our targeted verticals that we can utilize to accelerate our growth journey in Spain, which is one of our key focus markets for growing our digital business. Combining Hostelt\u00e1ctil\u2019s POS and merchant network together with our payment gateway enables us to approach both a broader customer base and larger customers across Spain. Additionally, we see a great opportunity to cross-sell Loomis\u2019 strong cash handling solutions and thereby cover a larger portion of customers\u2019 payment needs,\u201d says Erik Zingmark, CEO of Loomis Digital Solutions AB and Head of Loomis Pay.<\/p>\n
The business will be consolidated into Loomis as of March 2024 and be reported within the Loomis Pay segment.<\/p>\n