Back in February, Tranax announced it was changing it’s name to Hantle USA, to better align its brand and its products with Hantle Systems Co. Ltd., Tranax’s Korea-based parent company.
But on Wednesday, Tranax said there would be no name change after all.
The name change, according to attorneys for Tranax, was never official. In fact, lead attorney Bob Freitas tells ATMmarketplace.com that Tranax is not owned by Hantle Systems at all, and that there is no relationship between Hantle Systems and the company that acquired Tranax in the fall of 2008, Korea-based Eltna Group.
In an e-mailed statement, Freitas says: “Hantle USA is a separate company that is not a subsidiary of Hantle Systems. Hantle Systems sells ATM modules to Hantle USA . Hantle USA currently intends to focus on marketing and sales of ATM equipment, modules and related products for the retail industry. Hantle Systems is an established Korean company with 18 years of history in research and development of ATM modules for the banking and other industries.”
Some significant changes have taken place. On Feb. 1, Hantle USA took over responsibility for selling the company’s retail ATMs, while Tranax is now focused on kiosks, scanners and components. Hantle USA will also handle servicing for existing Tranax ATMs. Eventually all of the company’s ATMs will be rebranded to Hantle, but the transition will probably take a long time.
The head of Tranax’s parent company apologized for the confusion.
“Tranax regrets recent incorrect statements about the company which resulted from miscommunications between an employee and the upper management of the company,” said Won Gee Lee, CEO of Tranax and Eltna, Tranax’ owner, in an issued statement. “We apologize to our customers, the media, and the public who received this incorrect information. In fact, Tranax continues as a business, focusing on ATM machines and other related products, including scanners, self-service terminals and other modules for non-retail industries, including the banking industry.
Tags: ATM, ATM machine, ATM machines, ATMs
