eFunds Sells Second-Largest ATMFleet
SCOTTSDALE, Ariz. - (09/22/04) -- eFunds Corp. said Tuesday it hasagreed to sell its fleet of 17,200 ATMs, many of which areconnected to the CO-OP Network, to TRM Corp., an operator of ATMsand copier machines. The sale, for $150 million, will give TRMalmost 19,000 ATMs in the U.S., the second largest independentlyowned (non-bank) fleet of ATMs (behind Cardtronics' 27,000 ATMs).Robert Rose, president of the CO-OP, said the deal should havelittle impact on the operations of the credit union-owned network,which counts 8,000 eFunds ATMs among its 19,200 machines. The CO-OPwill continue to use the machines, currently owned by eFunds'Access Cash International subsidiary, and eFunds will continue toprocess the CO-OP's transactions, Rose told The Credit UnionJournal. TRM, based in Portland, Ore., currently operates 1,200ATMs in the U.S. that are already hooked into the CO-OP Network,and another 3,000 ATMs in Britain, and also manages more than19,000 copiers throughout the U.S.