HOUSTON – Cardtronics, the nation’s largest operator of ATMs, yesterday agreed to acquire Mr. Cash ATM Network Inc., an operator of more than 600 ATMs in Canada, as a launching pad north of the border.
The deal expands the operator of more than 45,000 U.S. ATMs internationally, to go with its fledgling Mexican and U.K. operations. “In Canada, Cardtronics gains a new market that is nearby and home to many well-known merchants and financial institutions operating on both sides of the border,” said Steve Rathgaber, the company’s CEO.
Cardtronics also will look to place Cardtronics-owned and -operated cash machines in Canada’s most relevant retailers, thereby creating high-visibility ATM branding opportunities for financial institutions, Rathgaber said.
Financial terms of the deal were not disclosed.
Cardtronics is the major electronics funds transfer switch for credit unions, with connections to CO-OP Financial Services, Credit Union 24 and Financial Service Centers Cooperative’s shared branching network.
