ATM King Plans IPO
HOUSTON - (12/24/04) -- Despite a delay, Cardtronis Inc.said it still plans to test the public markets with an initialpublic offering, probably in the first part of 2005. The company,which originally planned the IPO to help finance its $106 millionpurchase of E*TRADE's 15,000 ATMs, told The Credit Union Journalcompletion of the deal and other factors related to going publichave delayed the offering. The E*TRADE deal gives Cartronics afleet of 27,000 ATMs, far outpacing Bank of America's 17,000 as thelargest ATM fleet in the country. Privately held Cardtronics isexpected to increase the size of the proposed $80 million IPO,announced last April. Cardtronics machines are part of the Allpointsurcharge-free ATM network, which has signed more than 60 creditunions.