Cardtronics, a global ATM services provider, announced it recently acquired Cardpoint Limited to expand its presence in the UK and enter the German market. Cardpoint trades as an ATM service provider under the Cashzone brand in the UK. Cardpoint operates nearly 7,100 cash machines across the country and 800 in Germany.
As part of this acquisition, Cardtronics will also introduce a new business identity for its European network, called Cardtronics Europe. Cardtronics Europe will integrate Cashzone, Cardpoint and Bank Machine, which is Cardtronics' existing UK subsidiary.
"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 organization'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," sated Cardtronics CEO, Steve Rathgaber.