Ann: TSN Business Update on TSI India, page-42

I need a bit of help here with my research: If you read these two paragraphs from TSN’s latest announcement it appears that TSI is looking to consolidate the industry by acquiring “existing ATM’s deployed by other service providers”. So, who is that service provider? That’s the bit I need help with, if we can work out who provides that service to Corporation Bank, then that will provide a clue to what other banks we could possibly be dealing with and also how many machines could be involved.

“TSI India wins deal to manage 300 ATMs of Corporation Bank In a recent transaction, TSI India will manage a further 300 ATMs of Corporation Bank under a tripartite agreement between TSI India, Corporation Bank and the banks’ current service provider. The contract is for 7 years and falls within the terms of the previously announced Ministry of Finance Indian Bank ATM initiative. With this deal.”


“Therefore, TSI India is exploring inorganic growth opportunities, by seeking opportunities to acquire existing ATMs deployed by other service providers. A case in point is the above mentioned Corporation Bank deal, TSI will control and manage around 35% of Corporation Bank’s ATM fleet.”
https://hotcopper.com.au/threads/ann-tsn-business-update-on-tsi-india.3865325/#.Wh5YpEqWaUk


According to the RBI website, Corporation Bank has 2339 ATM’s onsite and 855 ATM’s offsite =3194 machines. TSI now manage 35% of those 1118 approx which leaves a further 2076 from that bank alone as an acquisition target. Serious numbers in my opinion and goes to show how quickly things could move if successful.
https://www.rbi.org.in/Scripts/ATMView.aspx?atmid=79


I’m more than comfortable with how things are proceeding. Anybody that questions how management have handled things is either a mug or has an agenda.