Avendus Capital Advises Ags Transact Technologies on Its Equity Raise From Tpg Growth.

AGS has under contract over 7,000 ATMs, under the brown label ATM outsourcing and managed services model. In addition, AGS has installed over 11,000 ATMs for over 70 banks in India. The current installed base of 75,000 ATMs is expected to more than double reaching 175,000 machines by 20151. Independent Service Organizations such as AGS are likely to play a major role in expanding this installed base.

AGS Transact Technologies Ltd. (formerly known as AGS Infotech Pvt. Ltd.) offers technology-based solutions for banking, retail, paint and petroleum sectors. Equipped with extensive experience in banking technology, AGS provides a complete suite of self-service banking products. The company is the dominant provider of ATM outsourcing services to the Indian banking industry.

TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With $2.5 billion under management, TPG Growth targets investments in a broad range of industries and geographies, utilizing leveraged buyout, growth equity, and private investment in public equity (PIPE) structures. The firm is backed by the resources of TPG with $48 billion of assets under management. TPG Growth has offices in the United States, China and India.