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Cardtronics Expands Through Acquisition In United Kingdom, Enters German Market

Stocks in this article: CATM

Quick Facts

  • Acquisition of Cashzone ATM portfolio expands Cardtronics' existing U.K. footprint
  • Germany becomes first continental European market for Cardtronics
  • Cardtronics Europe identity established
  • Jonathan Simpson-Dent introduced as Managing Director
  • Acquisition brings Cardtronics' scale business model to U.K. and Europe

LONDON and HOUSTON, Aug. 7, 2013 (GLOBE NEWSWIRE) -- Global ATM services provider Cardtronics (Nasdaq:CATM) has acquired Cardpoint Limited, which trades as ATM services provider Cashzone in the United Kingdom, and as Cardpoint in Germany. In conjunction with this deal, Cardtronics introduces a new corporate identity for its European operations, Cardtronics Europe, which will combine Cashzone, Cardpoint and Bank Machine, Cardtronics' existing U.K. subsidiary. From a consumer point-of-view, the Bank Machine and Cashzone brands remain intact in the United Kingdom, as well as the Cardpoint brand in Germany.

Cardtronics Chief Executive Officer Steve Rathgaber said:

"Cardtronics has been operating in the United Kingdom since our 2005 acquisition of Bank Machine, playing a key role in expanding ATM access in the U.K. With this transformative acquisition of the Cashzone and Cardpoint ATM estates, Cardtronics establishes the foundation upon which to build a Cardtronics Europe scale business to complement our North American operations."

"In the U.K., in Germany—this combination of the Cashzone, Cardpoint and Bank Machine ATM portfolios creates scale, synergies and geographic coverage on a level much quicker than its constituent parts could have achieved alone. The combined enterprise to be formed from this transaction, Cardtronics Europe, can harness each organisation's skills and resources to build a European platform poised for sustainable growth in the U.K. and expansion into attractive markets such as Germany."

Combined Company Positioned for Long-Term Growth

A global ATM services company, Cardtronics has been part of the ATM provider community in the U.K. since its 2005 acquisition of Hatfield, Hertfordshire-based Bank Machine, which owns and operates an estate of 4,300 non-bank cash machines, both free-to-use (FTU) and pay-to-use (PTU). Additionally in the U.K., Cardtronics operates Green Team Services, an in-house armored courier provider; New Wave, its own ATM installation operation; and in-house maintenance and engineering teams.

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