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Concord purchases Core Data ATM processing business

05 March 2002  |  3043 views  |  0 Concord purchases Core Data ATM processing business

Electronic transaction processor Concord EFS has signed an agreement to acquire Texas-based Core Data Resources. Financial terms were not disclosed.

Core Data provides ATM processing and related services to financial institutions, retailers, and independent sales organisations nationwide. The company currently drives approximately 35,000 ATMs.

Edward Labry, Concord president, says: "We believe Core Data's strength in the retail ATM deployer segment will complement Concord's existing ATM driving and monitoring services, while also creating potentially significant cost efficiencies in telecommunications and gateway expenses."

Concord, the largest ATM processor in the US, drives approximately 58,000 ATMs.

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