Source: eFunds Corporation
eFunds Corporation (NYSE:EFD), a leading provider of risk management, electronic payments and global outsourcing solutions, announced today that it has completed the divestiture of its ATM portfolio to TRM Corporation (NASDAQ:TRMM) for $150 million cash.
The ATM portfolio being sold to TRM includes approximately 17,000 ATM machines under merchant contracts located throughout the U.S. and Canada, including machines owned and leased by eFunds. As part of the agreement, eFunds will provide ATM managed services to TRM under the terms of a five-year contract.
"The sale of the ATM portfolio and the resulting ATM managed services agreement enables eFunds to continue to support the ATM industry by leveraging its core competencies in transaction processing and business process outsourcing, as well as providing additional capital with which we can continue to build value for eFunds' shareholders," said Paul F. Walsh, Chairman and Chief Executive Officer of eFunds.