October 26, 2014
Cardtronics USA, Inc., a wholly owned subsidiary of Cardtronics, has acquired the Welch ATM business for approximately $160 million. Cardtronics, Inc. is one of the world's largest retail ATM owner/operator, had announced acquisition of Welch ATM, a retail ATM services company, earlier this year.
The combined company will bring a global portfolio of 111,150 ATMs, including 93,350 retail ATMs in the United States. The acquisition brings together complementary customer bases and sales teams, positioning Cardtronics to accelerate revenue growth, achieve cost synergies and deliver greater profitability.
Steve Rathgaber, CEO of Cardtronics, said in an official press release: 'Now that the transaction is completed, we're looking forward to integrating the two companies and delivering greater value to our customers through an even broader portfolio of ATM services and solutions, and to our shareholders through new revenue generation opportunities, operational efficiency and diversification of our client base.'
Cardtronics is known for making ATM cash access convenient where people shop, work and live. Cardtronics brings convergence of retailers, financial institutions, prepaid card programs and the customers they share. It operates more than 111,150 retail ATMs in U.S. and international locales. The company drives foot traffic for America's most relevant retailers, enhances ATM brand presence for card issuers and expands card holders' surcharge-free cash access on the local, national & global scene. Cardtronics is where cash meets commerce.
Here are some interesting facts that have come forth from this deal: