CMS Info Systems on Sunday announced the acquisition of Financial Software and Systems' (FSS) managed services business for ₹115 crore to strengthen its position in the end-to-end ATM management space. It will add 8,000 automated teller machines (ATMs) to take CMS' portfolio in the management solutions business, where it acts as a technology provider and operations partner for banks, to 39,000 machines. CMS' Executive Vice Chairman and Chief Executive Rajiv Kaul said the managed services industry is consolidating, and banks are looking to work with fewer and larger partners. "FSS' clients are exactly the kind of relationships we want to deepen, and bringing them onto our platform opens the door to serve them across our full suite of services," Kaul added. The company added that its existing infrastructure and operating scale provide a "natural basis for integration efficiencies" as FSS' operations are absorbed into the platform.

Source: The Hindu March 29, 2026 09:26 UTC