Press release

GLORY Launches Direct Sales & Service Presence in Mexico Through the Acquisition of Grupo Sortek S.A. de C.V.

Sponsored by Businesswire

GLORY Ltd. [TYO:6457] today announced that it has acquired Grupo Sortek
S.A. de C.V. (Sortek) by purchasing 100% of Sortek’s issued shares
through its international subsidiaries Glory Global Solutions
(International) Ltd. (GGSI) and Glory Global Solutions (Holdings) Ltd.
Sortek is the leading provider of cash sorting solutions in Mexico and
has an excellent reputation for service delivery.

Mexico represents an important growth market for Glory. According to the
Central Bank of Mexico, the volume of cash in circulation grew by almost
22% between March 2016 and March 20191. With around 90% of
all consumer transactions completed in cash2, banks and
retailers across the country are recognizing the opportunities presented
by automating their cash operations to reduce costs, increase security
and refocus staff on higher value customer facing activities.

Commenting on the acquisition Chris T. Reagan, President of Glory’s
business in the Americas, said, “This acquisition supports Glory’s
strategy of expanding our international business. This is very much in
line with the company’s growth strategy, focussing more of our
management resources on the expansion of our business beyond Japan.
has been a very successful distribution partner with an excellent track
record and we believe the additional synergy and resources that a direct
Glory presence offers, coupled with the relationships the existing team
has in place, will bring many benefits both to existing and new

Armando López, Managing Director of Sortek, commented, “We are delighted
to be joining the Glory family. Glory is a world leader in cash
technology solutions and we have enjoyed a long partnership with them.
The acquisition means that our customers will have direct access to the
extended Glory team while enjoying continuity of the individual
relationships we have nurtured over the years.”

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As a global leader
in cash technology solutions, we provide the financial, retail, cash
center and gaming industries with confidence that their cash is
protected and always working to help build a stronger business.

Our cash automation technologies and process engineering services help
businesses in more than 100 countries optimize the handling, movement
and management of cash. While we span the globe, we personally engage
with each customer to address their unique challenges and goals —
enhancing staff efficiency, reducing operating costs and enabling a more
rewarding customer experience.

Employing over 9,000 professionals worldwide with dedicated R&D and
manufacturing facilities across the world, GLORY is built on a rich
customer-focused, technology-driven heritage spanning almost a hundred

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