Cardtronics, a non-bank ATM operator, has completed the purchase of Columbus Data Services (CDS), an independent processor of ATM and payment card transactions.
Columbus Data Services, which currently processes over 90,000 ATM terminals for bank and non-bank ATM deployers, will now operate as a separate division of Cardtronics and will continue to be headed by its current management team.
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The deal will add a purpose-built technology platform to Cardtronics for servicing ATM deployers that address independent retail locations.
Cardtronics CEO Steve Rathgaber said: "We look forward to bringing Cardtronics’ deeper resources, extensive distribution channels and differentiated ATM product set to CDS to accelerate its growth and provide greater value to its customers."
The aggregate purchase price was approximately $80m. Cardtronics said that the acquisition will be slightly accretive to 2015 earnings and more accretive to 2016 earnings.
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By GlobalData
