Cardtronics Buys Assets of ATM Network

Cardtronics USA has acquired the assets of the independent sales organization ATM Network, including its merchant contracts, customer relationships, online store and Web properties.

Cardtronics also bought the ISO's Minnesota-based head office, the parent company, Cardtronics Inc., announced Wednesday. The companies signed and closed the transaction Tuesday. They did not disclose financial terms.

Cardtronics, of Houston, expects ATM Network's management team and employees to join it.

Founded in 1996, ATM Network was a privately owned provider of ATM services to independent merchants, primarily on the local level. Expanding beyond its upper Midwest origins, ATM Network grew into a nationwide company with more than 6,000 merchant clients. It had more than 6,200 primarily merchant "own-and-load" ATMs under contract, Cardtronics said.

The acquisition of ATM Network's assets pushes Cardtronics' merchant-owned ATM count to 21,300 machines under contract. Including both company- and merchant-owned ATMs, the Cardtronics portfolio now totals 61,200, the company said.