Source: FastFunds Financial
FastFunds Financial Corporation (OTCBB:FFFC), announced today that it has signed a non-binding letter of intent to acquire, through a partnership to be formed, 51% of Coast ATM, Inc.'s ("Coast") Automated Teller Machine ("ATM") business.
Coast specializes in ATM placements in retail markets and its principals have extensive experience in the gaming industry.
FastFunds operates through a wholly owned subsidiary Chex Services, Inc. ("Chex"). Chex's product lines include full financial service booth operations, credit and debit card cash advances, ATM placements, multi-function ATMs, check cashing and electronic check conversion and verification, stored value cards and money remittance services.
Mike Casazza, acting Chief Executive Officer of FastFunds stated, "This strategic acquisition provides FastFunds with a diversified market accessibility and encapsulates one of the key components of our growth strategy, which is the enhancement of shareholder value through acquisitions coupled with organic growth of our existing business."