German IT provider for the retail and banking sectors Wincor Nixdorf has acquired 100% of Spanish IT software company Dynasty Technology Group, according to online press.
The takeover - for which a price tag was not reported - will allow Wincor Nixdorf to enter the Latin American and Spanish markets, according to the German firm's senior VP for American and Iberian business, Javier López-Bartolomé.
Dynasty Technology Group specializes in software and IT integration and adaptation for retail banks, with operations in Brazil and other Latin America markets.
"We are looking forward to expanding our business even further with our retail banking partners. We see excellent opportunities for Dynasty to complement the Wincor Nixdorf service portfolio, especially in our favored regional markets," said Dynasty Technology CEO José Antonio Huerga, who will keep his current position at the company.
According to Wincor Nixdorf, after the acquisition Dynasty Technology Group will be rebranded Dynasty Technology Group - a Wincor Nixdorf company.