JACKSONVILLE, Fla. – Global Axcess Corp., which manages a fleet of 5,200 ATMs in 43 states, on Wednesday said it has hired an investment bank to explore the merger or sale of the company.
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Global Axcess said it hired Golding & Company to assist in exploring strategic alternatives with an emphasis on the sale or merger of the company.
The announcement came as the company was reporting a 3% decline in third quarter revenue to $7.9 million, and an increase in losses for the quarter to $3.8 million, from losses of $252,000 for the same quarter last year. For the first three quarters of the year revenue growth was flat at $24.4 million, and losses were $5.5 million, compared to losses of $1.8 million for the first nine months of 2011.
