02/03/2015

Burroughs Acquires Pendum

Plymouth, MI., February 2, 2015- Burroughs Inc., is pleased to announce it has acquired Pendum LLC, a Chicago, Illinois based provider of a broad range of ATM Services and Equipment for Financial Institutions and Independent ATM Deployers (IADs). This transaction combines the strengths of Burroughs and Pendum to create the nation’s largest independent multi-vendor provider of maintenance as well as check and cash transaction technology solutions focused on providing world-class service to support customers.

Alan Howard, President and CEO of Burroughs states “Burroughs and Pendum share a strong customer service focus. 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. 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.”

Regarding the acquisition, Brad Browder, President and CEO of Pendum, remarks, “We are pleased to combine Pendum with the strengths of Burroughs’ national network and sizeable resources to meet the demands of the ATM and Self Service marketplace. Pendum has always strived to give our customers options when it comes to service, regardless of the make or model. We are more confident than ever in our ability to focus on customer satisfaction through excellence in service, exceptional communication, and unparalleled results.”

Burroughs is owned by Marlin Equity Partners, a leading global investment firm with over $3 billion of capital under management.

About Burroughs Burroughs is a Plymouth, Michigan based global provider of maintenance services, document and payment-processing image technology, and cash-automation solutions to financial institutions and retailers. Its services and products provide banks and commercial customers with safe, secure and prompt document and cash processing that improves operational efficiencies and payment security. With more than 100 years of history, Burroughs is recognized as the industry leader in image-processing technology from web-enabled branch and merchant capture devices to high-speed reader/sorters in some of the largest payment-processing centers worldwide. For more information, please visit www.burroughs.com.

About Pendum Pendum is a leading national independent ATM service provider for ATMs and other cash automation equipment for national and community banks, credit unions, off-premise deployers, gaming and retail establishments. Pendum draws on more than 25 years of dedicated service to the ATM industry to bring customers flexible, consultative solutions that reduce costs and improve uptime. For more information, please visit www.pendum.com

SOURCE: Burroughs, Inc.