CashTech and Qwinstar are pleased to announce their merger

MISSISSAUGA, Ontario, Aug. 09, 2018 (GLOBE NEWSWIRE) -- CashTech Currency Products Inc. and Qwinstar are thrilled to announce the exciting merger of three industry-leading payment solutions and services companies and the appointment of Larry McCarter as President and CEO. CashTech Currency Products Inc., Qwinstar, and 3 Point Alliance Canada (3PAC) are excited to move forward to better serve our customers and offer more diverse solutions to a larger market.

With offices in Mississauga, ON and St. Paul, MN, CashTech, Qwinstar, and 3PAC have more than 40 years' experience in providing cash management products, remittance processing and technical service solutions. Each company has had strong independent success and built an excellent reputation with many loyal, long-standing customers in financial institutions, banks, retail, cash-in-transit (CIT), and gaming. This merger is an opportunity for each company to grow and expand their portfolio of products and services to cover more than 75 metros in the U.S. and Canada.

"Our customers have supported us for the past 15 years because of our committed service support performance levels as well as our business model, enabling CashTech to become a leader in the industry. This merger is a logical next step that creates substantial value for customers and suppliers. It will benefit customers through new services and expanded service coverage capabilities on a national level as well as a strong presence for cross-border customer support," explains Gino Lombardi, President of CashTech.

"For more than 40 years, the Qwinstar/3 Point Alliance team has provided our customers with exceptional service and the assurance of long-term support to protect their technology investments. The merger with CashTech Currency Products Inc. expands on our philosophy to provide our customers a broader range of high-quality product services over a larger base of talented technicians throughout the U.S. and Canada. We are very excited by the opportunity to combine these companies that value their customer relationships and employees," explain Rich Daidone and Norm Grunberg, Co-Presidents.

Combined, the partnership will become one of the largest independent U.S. and Canadian cross-border technology service providers in the market, with a growing portfolio that includes cash automation solutions, intelligent safes, bank branch automation, cheque sorters, remittance-processing products, parts, supplies, implementation and maintenance services.

"Our goal is to be the best provider of solutions and services to our customers, and clearly distance ourselves from any competition. Collectively, we are focused on a seamless transition to ensure customers continue to experience the excellent quality and expanded services they have come to expect from us. This exciting announcement is a positive move for our customers, and all three companies welcome our employees, partners, and customers to the new team," explains Larry McCarter, incoming President and CEO.

About CashTech Currency Products Inc.:

For over 15 years, CashTech has been helping customers improve efficiencies, reduce potential currency losses, and improve cash flow. Offering a wide range of commercial currency solutions, CashTech's experienced consultants offer trusted, strategic advice on commercial currency machines and maintenance services to help customers make the right choice for their business needs.

About Qwinstar and 3 Point Alliance Canada:

For over 40 years, Qwinstar and 3 Point Alliance Canada have been a leading provider of end-to-end remittance processing maintenance solutions with customer-centric, flexible, robust solutions that exceed industry quality standards, increase reliability, and streamline payment operations.

Contact:

Andrea Lombardi, Vice President of Sales and Marketing
CashTech Currency Products Inc.
www.cashtechcurrency.com
Phone: 905-696-4815
Email: andrea_lombardi@cashtechcurrency.com

Mike Atchley, Vice President of U.S. Operations
Qwinstar Corporation
Phone: 909-717-9400
Email: mike.atchley@qwinstar.com