G&D Currency Technology has bought Frankfurt, Germany-based Procoin GmbH, a provider of counting, sorting, and packing machines for coins, and counting machines for banknotes.

The acquisition expands G&D Currency Technology’s offering in the coins segment, and strengthens the company’s position in the cash cycle automation market, a company press release said. The release cited additional benefits that include Procoin’s wide product range and its strong distribution network in Europe.

“The global volume of cash will grow steadily,” G&D Currency Technology CEO Wolfram Seidemann said in the release. “For this reason, G&D Currency Technology’s acquisition of Procoin represents an investment in a market with an exciting future. We are bringing together Procoin’s technically advanced product range with G&D Currency Technology’s strong global presence. This enables us to offer outstanding support to our customers at every point in the cash cycle.”

G&D Currency Technology acquires provider of coin-, note-counting machines