E*Trade Bank has acquired a portfolio of more than 4000 installed cash machines from ATM vendor XtraCash. Specific terms of the deal were not disclosed.
E*Trade's ATM network now totals more than 15,000, making it the second largest in the US.
Arlen Gelbard, chief banking officer and president, E*Trade Bank, says: "The acquisition, which increases the size of our network by approximately thirty percent, solidifies our role as a leader in the ATM industry, while adding to a consistent and reliable source of revenue for E*Trade Bank."
E*Trade adds that the newly acquired units will expand the company's reach in California and the western United States.