In an encouraging sign for the Sri Lankan economy and its bourgeoning FinTech sector,
Japan’s Hitachi-Omron Terminal Solutions announced that it had entered into an
agreement for the purchase of the entire issued share capital of Interblocks Ltd, a local
company specializing in payment-related software products and services catering to
needs of financial institutions and retail businesses.
Upon finalization of the milestone share acquisition, Interblocks Ltd will operate as a
wholly-owned subsidiary of Hitachi-Omron Terminal Solutions, building on a vibrant
capital and business partnership which first commenced in May 2018.
“We are pleased to warmly welcome Interblocks into our Group. Since we commenced
our business alliance agreement last year, our teams have been jointly developing
solutions for payment channels and we are happy to note that in a very short period, we
have received numerous inquiries which have since been converted into viable
business. The invaluable contributions made in terms of software development by the
Interblocks team has been vital to this success.
“With Interblocks joining our group, we are confident that we will now be able to work in
closer collaboration to share expertise and technologies that will help develop a new
generation of solutions for the financial and payment market,” Hitachi-Omron Terminal Solutions Representative Director and President, Tetsuya Yagi stated.
He further noted that Hitachi-Omron Terminal Solutions will now seek to accelerate the
development of solutions that accommodate cash and non-cash transaction channels
such as Automated Teller Machines (ATMs), bank counters, mobile banking or
smartphone-based payment for the global market including India and Southeast Asia.
”We are truly excited to move into this next stage of our company’s journey as part of
the Hitachi-Omron Group. As a fintech that has its roots in Sri Lanka, we are also
deeply honored to have been selected to become part of an organization with the
heritage, strength, and leading global presence as the Hitachi Group.
The rapid evolution of our partnership in the short period of just over a year is a
testament to the exceptional synergies between our companies and the alignment of
our visions for the future of the FinTech space which we believe lies in integrated
scalable and adaptive solutions. The unique knowledge and capabilities we each bring
to the table will enable us to achieve this vision and continue to provide market-leading
technology in this rapidly evolving space.
It will also be a boost to Sri Lanka that, global leaders are still seeing opportunity in Sri Lankan businesses, we hope this sends a positive message to local companies and global investors alike,” Interblocks Managing Director and CEO, Dinesh Rodrigo stated.
He further noted that Interblocks will now be empowered to provide improved products
and services to our existing and future customers. It will also enable us to enhance and
expand our outsourcing and manage service offerings by leveraging on the experience
and strength brought by Hitachi-Omron to serve our customers better.
Headquartered in Tokyo, Japan, Hitachi-Omron Terminal Solutions, Corp. is a member
of the Hitachi Group and a leading vendor of cash recycling ATMs in the world. Hitachi-
Omron Terminal Solutions provides highly reliable ATM and bank systems that address
real user needs. The company supports a secure, safe, and comfortable society through
prominent technologies and innovative solutions.
Established in 2000, Interblocks provides a broad product lineup designed to connect
with multiple banking channels, such as ATMs, Point Of Sale (POS), mobile terminals,
and more. The company offers sophisticated software development capabilities in the
electronic payment processing space, primarily catering to corporates in Asia, Sri
Lanka, and the Philippines. Its payment service infrastructure features a switching
system that processes transaction data at its core and is an integrated next-generation
service delivery platform comprising diverse software groups accommodating Mobile
Wallets, Payments, Cards, Remittance, and Virtual Banking solutions which are highly
expandable and exceptionally flexible.