DirectCash Buys Australian ATM Firm for $173 Million

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DirectCash Payments Inc., a Canadian provider of ATMs, debit terminals, and prepaid phone and cash cards, acquired Australian-based Customers Ltd. for $176 million.

Both companies have similar core competencies. Once the acquisition is completed, the combined entity will have ATM operations in Canada, Australia, New Zealand, Mexico, the United Kingdom and the United States, Reuters says.

The deal will increase DirectCash's ATM network from about 7,900 machines to almost 14,200, The Paypers says.