US independent cash machine operator Cardtronics has acquired 1704 ATMs and related placement agreements from American Express Company
The transaction adds relationships with 22 new corporate retail organisations and 40 independent merchants to the Cardtronic's portfolio. Financial terms were not disclosed.
The acquisition, the largest yet for Cardtronics, brings the number of ATM machines it owns and/or manages to more than 12500. Including this purchase, Cardtronics has acquired more than 5000 ATMs and related contracts in the past year.
The American Express machines tend to be located at leading national supermarkets, pharmacies, department stores and retail warehouses.
Jack Antonini, chief executive officer of Cardtronics, says of the new deal: "The geographic and category diversity of this portfolio nicely complements our existing business."
William Glenn, president, establishment services North America, American Express, says the sale is part of a move to rationalise its ATM portfolio and to "capitalise on marketplace opportunities".