BELLEVUE, Wash. – Coinstar Inc., the popular provider of coin counting machinery, said it plans to expand its foreign remittance business with a deal to acquire GroupEx Financial Corp., a provider of money transfers between the U.S. and Latin America, for $60 million. Coinstar, which makes the coin counting machines found in many financial institutions and stores, entered the foreign remittance market in 2006 with the acquisition of Travelex Money Transfer. GroupEx, a privately owned La Mirada, Calif-based company, operates through 1,650 send agents in 23 states servicing 13 countries.
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