Financial transaction processing systems builder BancTec Inc is to buy Dallas, Texas neighbour Recognition International Inc, which provides cheque and other document recognition systems, in a share exchange valued at about $180m. Bantec will offer 0.59 shares for each Recognition; the two are of comparable size and the combination will have annu al sales of about $500m, 4,000 staff and over 5,000 customers. The combined entity is expected to take a $65m restructuring charge for consolidation expenses.
