Brink's, the world's leading cash management company, is buying a majority of the cash operations of G4S, the U.K.-based security and cash management firm, for $860 million (660 million pounds).

The G4S operations, which generated about $800 million in pro forma revenue last year, will add 14 markets to the existing Brink's footprint. The deal however, excludes the G4S Retail Cash Solutions business and cash operations in the U.K., South Africa and several smaller geographic markets. 

"This transaction represents our largest acquisition to date and further demonstrates our disciplined approach to value added capital allocation," Doug Pertz, president and CEO of Brink's said in a company release. "The acquisition of these select G4S cash operations is an excellent strategic fit that provides a strong platform for substantial growth."

The deal helps Brink's expand its business into cash-intensive, emerging markets mainly located in Asia and Eastern Europe.

The deal represents the 14th acquisition by Brink's since 2017. Just last month the company took a $9 million stake in Moneygram. 

The deal will be completed in multiple phases,with the first part completed in 60 days and the remaining by the end of the year.

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