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Stock Market & Financial Investment News

News Breaks
July 21, 2014
17:00 EDTCATMCardtronics to acquire Welch ATM for $160M
Cardtronics announced a definitive agreement under which it will acquire Welch ATM for $160M. Upon completion of the transaction, the combined company will support a global portfolio of 109,600 ATMs, including 92,500 conveniently located retail ATMs in the United States. The combined business will be positioned to accelerate revenue growth, achieve cost synergies, create additional value for its retailer and financial institution customers, and drive shareholder value. A combined Cardtronics and Welch ATM organization will also bring together the leading providers of ATM services to Walgreens. The collective Walgreens portfolio totals 5,100 ATMs and a presence in a significant portion of the retailer's nationwide footprint. Additionally, Welch ATM will add 3,100 company-owned, Rite Aid-located ATMs to Cardtronics' roster of premier retailer locations. The companies anticipate closing later in Q3. Cardtronics will update its FY14 guidance to include the acquisition of Welch ATM following the completion of the transaction.
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