Cardtronics, Inc. announced its acquisition of Welch ATM for $160 million. According to a company release, the acquisition will add 26,000 U.S. ATMs, will bring together a combination of complimentary customer bases and sales capabilities, and will combine leading providers of ATM services to Walgreens while adding Rite Aid as a retail partner.
“We believe this acquisition creates great value for all of our stakeholders. As a combined company, we can offer an expanded product set for customers and consumers, plus improved operational efficiencies,” said Cardtronics CEO Steve Rathgaber in the release. “For our shareholders, by combining Cardtronics and Welch ATM, we will broaden our client mix and further our customer diversification. In doing so, we expect to drive higher earnings per share within the next 12 months.”
In addition to driving shareholder value, the acquisition is expected to accelerate revenue growth, achieve cost synergies, and create additional value for retailer and FI customers.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More