ATM operator Cardtronics acquires Columbus Data Services
Leading ATM provider and operator Cardtronics Inc. has completed the acquisition of Columbus Data Services LLC (CDS) for an estimated $80 million, subject to customary closing adjustments, reported CSP Daily News.
CDS is an independent processer of ATM and payment-card transactions for retailers and financial institutions. After the acquisition, they will operate as an independent branch of Cardtronics and keep their current management team.
With this operation Cardtronics take a step forward in their ATM business by adding technological expertise and greater contact with financial sector clients. CDS has a mobile and online management technology which provides customers with self-service tools to operate their ATM accounts.
"CDS’ … presence in processing ATMs in independent retail locations is highly complementary with Cardtronics' strength in the larger-chain retail market,” said Cardtronics CEO Steve Rathgaber.
“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,” he explained, as reported by CSP.
The deal represents a move forward for Cardtronics a week after 7-Eleven U.S., their biggest customer and responsible for 17% of their annual revenues, decided not to renew their ten year partnership ending in 2017, instead choosing Japanese owned Financial Consulting & Trading International (FCTI) as their new ATM operator.
