Mumbai, March 29 CMS Info Systems announced on Sunday the acquisition of Financial Software and Systems' (FSS) managed services business for ₹115 crore to strengthen its position in the end-to-end ATM management space.
The transaction involves the transfer of operating assets and the novation of customer contracts, and is expected to close in Q1 FY27, according to a statement.
This will add 8,000 automated teller machines (ATMs) to CMS' portfolio in the management solutions business, where it acts as a technology provider and operations partner for banks, to 39,000 machines. It will also add new private sector banking relationships.
CMS' Executive Vice Chairman and Chief Executive Rajiv Kaul said that the managed services industry is consolidating, and banks are looking to work with fewer and larger partners.
"FSS' clients are exactly the kind of relationships we want to deepen, and bringing them onto our platform opens the door to serve them across our full suite of services," Kaul added.
An official statement from the company said that it had outlined consolidation in the ATM management space through acquisitions as a key strategic lever in September 2025.
CMS' other 68,000 ATMs in the cash logistics business have been the mainstay for revenues.
The company added that its existing infrastructure and operating scale provide a "natural basis for integration efficiencies" as FSS' operations are absorbed into the platform.