Partnerships / Acquisitions

Euronet Completes Buy Of ATM Operator YourCash

Euronet Worldwide, a global electronic payments provider, announced on Monday (Oct. 10) it has completed the acquisition of U.K.-based ATM operator YourCash Europe Limited. The acquisition includes approximately 5,000 ATMs across the U.K., Netherlands, Belgium and Ireland.

With the addition of YourCash, the combined businesses will operate independent ATM networks in 21 European countries. YourCash provides Euronet with additional experience and resources in key Western European markets and greater access to retailers — particularly in the U.K. and Netherlands. YourCash will benefit from Euronet’s leading ATM processing capabilities, large-scale operational expertise, additional capital for ATM deployments, as well as a technology platform, which will enable more value-added products on its ATMs and diversify the value propositions to its merchant and bank partners.

“YourCash has a management team that shares our vision of bringing financial convenience to customers and has a proven track record of delivering strong growth in new and existing markets,” said Nikos Fountas, Euronet’s EVP and chief executive officer of EFT Europe, in a press release. “This is a great opportunity to leverage the benefits that each organization brings to the partnership in order to expand Euronet’s ATM coverage across Europe, create additional value for all of our customers, accelerate revenue growth and achieve market synergies across the businesses.”

Jenny Campbell, CEO and principal shareholder of YourCash, said in the same press release that the company is “excited to join the Euronet family. After years of excellent organic growth and expansion into new markets, we are excited to be able to leverage Euronet’s global scale, value-added product portfolio, technology, industry expertise and financial strength to further expand our business.”

YourCash generated approximately £29 million in 2015 revenues and is expected to be accretive to Euronet’s adjusted cash earnings per share by approximately $0.07–$0.08 in the first full year of operations.

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