Eftpos company Cadmus buys out minorities

Eftpos company Cadmus said today it had acquired the remaining shareholding in Eftpos Connect and Cadmus Direct (Waikato).

Cadmus unit Product Rentals also recently completed the settlement of the purchase of the Eftpos finance book of Dorchester Finance and was well underway to settling the purchase of the Eftpos rental book from Hanover Finance, Cadmus said.

These acquisitions are part of Cadmus' strategy to get critical mass in its finance business model so it can expand in overseas markets, managing director Ian Bailey said.

Cadmus shares were up 1c to 22 cents in afternoon trading. They have traded between 18 and 28 cents in the past year.

- NZPA