Cardtronics acquires all the assets of ATM Network

Expected to add between USD 7-9 million a year

Cardtronics USA has acquired all the assets of ATM Network, including its merchant contracts, customer relationships, online store and web properties and its head office in Minnesota. As of August 7th, ATM Network’s management team and employees are expected to join Cardtronics. As part of the deal, Phil Rock, founder, president and chief executive officer of ATM Network, will join Cardtronics and assume leadership of the company’s merchant ATM business. Supported by a team drawn from both parties, Rock will manage and coordinate dealer and direct-to-merchant sales efforts.

The acquisition of ATM Network’s online store and direct-to-merchant sales engine will benefit Cardtronics’ existing merchant ATM business which has historically filled its sales pipeline through indirect sales efforts. The move adds to Cardtronics’ portfolio of merchant own-and-load ATMs under contract, gains a merchant sales team and adds balance to its dealer and direct merchant ATM merchant sales outreach initiatives. It also pushes Cardtronics’ merchant-owned ATM count to 21,300 machines under contract. Including company owned machines, the company’s ATM estate is around 61,200.

The acquisition is expected to have a non-material impact on Cardtronics’ consolidated results- revenues and adjusted net income for 2012. The company expects the full-year impact of the transaction will add between USD 7-9 million a year. 

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