Money transport company Brink’s Nederland has reached an agreement in principle for a takeover by German peer Wincor Nixdorf.

Once the takeover is finally agreed, Houten based company will become part of Wincor’s subsidiary SecurCash.

How much the deal is worth has not been announced. It will make Wincor one of the biggest money transport companies in the Dutch market.

In a joint statement on Tuesday, the companies said: ‘Brink’s and SecurCash together will create an efficient and national infrastructure for the handling of cash. Our activities will support and strengthen each other.’

Earlier this year, Brink’s announced plans to sack 650 out of 1,000 staff after losing the contract to fill Rabobank and ABN Amro cashpoint machines. Staff went on strike several times before the company reached agreement with the FNV union on redundancy terms.

Wincor Nixdorf also manufactures cashpoint and lottery machines.