Goznak Buys Banknote Innovation Systems

Goznak has acquired Bank Innovation Systems (BIS), the Russian supplier of banknote inspection and processing equipment, in a deal signed at the start of June.

BIS was established in 2006 by the engineering team of BARS, manufacturers of banknote counters and sorters. It has continued to develop and manufacture currency processing equipment, along with vault, storage and destruction solutions, but its primary focus in recent years has been on the development of a range of banknote quality inspection systems, along with production control and monitoring (track and trace) solutions.

The company has customers in ten countries, but its main market is Russia and its principal customer is Goznak, for whose production sites it has been supplying quality control systems since 2011.