Canadian ATM provider
DirectCash Payments is set to acquire Australian Customers Limited
for an estimated $179 million, the companies announced.
The deal has been approved by
the DirectCash board and is expected to be closed by Q3.
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Under the agreement DirectCash
will pay $1.27 per share. The company expects the acquisition to
add $129 million in revenue to its balance sheet.
“We are very excited about
this acquisition as it gives us a significant ATM market presence
in Australia,” said DirectCash president and CEO Jeffrey Smith.
Once the transaction is
concluded, DirectCash estimates that the number of ATM’s will grow
to about 14,200 worldwide.
Half of them (around 7,900)
are allocated in Canada, and the rest being in Australia, New
Zealand, Mexico, the UK and the US.
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