Financial Software and Systems Private Limited (FSS) has divested its ATM outsourcing business assets to CMS Info Systems Limited for about INR 115 crores, marking a major consolidation milestone and reshaping India’s rapidly evolving ATM managed services sector.
Financial Software and Systems Private Limited (FSS), a leading Chennai-based payment solutions provider completed the divestiture of its ATM outsourcing business assets to CMS Info Systems Limited (CMS) for a total consideration of around INR 115 crores.
The deal marks a major consolidation move in India’s ATM managed services sector.
Fox Mandal & Associates advised FSS as the legal counsel for the entire transaction. The firm supported FSS through negotiations, documentation and execution, ensuring smooth completion of the asset transfer. The transaction involved the transfer of multiple ATM-related business assets from FSS to CMS as part of FSS’s strategic decision to exit this business segment.
According to the firm, this divestment aligns with FSS’s broader business strategy to focus on its core digital payments and technology offerings, while allowing CMS to strengthen its already significant footprint in the ATM management ecosystem.
The Fox Mandal team handling the transaction was led by Jeeva Rajagopal (Senior Partner), with support from Revanth Ashok (Senior Associate) and Aamena Chhagan (Associate).
Industry experts believe this deal will further reshape the competitive landscape of India’s ATM services space, as consolidation continues among major players aiming for operational scale and efficiency.
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