Spanish company Prosegur Cash continues with its expansion strategy and targets the services to banking, a sector that accounts for most of its income. Prosegur Cash is known for its securities transfer and surveillance services.
Expanding services to banking
Prosegur has two operational offices in the city: one for its security and surveillance service, the other for transfer of funds in Cordoba. The Spanish company will add VN Global Outsourcing employees to its 4300 employees in the area of outsourcing of services for banking.
How much Prosegur will pay for the Argentinian company is not known. The operation was not a traditional purchase but an integration process with share capital control that will be carried out in stages. However, the Madrid Stock Exchange lists Prosegur. It is expected that the total amount of the transaction will eventually be known.
VN Global Outsourcing was founded 25 years ago by Luciano Nícora. Nicora said that the sale of the company is an opportunity to scale the operation of VN Global Outsourcing. He will continue in the company as an external advisor, along with the management team and shareholders to ensure the continuity of the strategy.
This union is profitable for both parties. They share the same type of clients and offer similar services. They will share infrastructure, as well as a considerable investment to add new technologies to operations. They attempt to become the main service provider for banking and to accelerate their expansion strategy in Argentina.
Prosegur Cash was born in 1976. Currently, It employs more than 65 thousand people in 21 countries. Its operation has 18 thousand employees in Argentina. As soon as the sale of VN Global Outsourcing is completed, its employees will reach 21 thousand.