Houston-based ATM management company Dolphin Debit, which works with a number of credit unions, has acquired its longtime competitor Outsource ATM, along with their clientele and managed ATMs.
Following months of discussion and due diligence between Dolphin Debit and Outsource, the acquisition was finalized last week.
“The Dolphin Debit story is one of consistent organic growth, and this acquisition adds to that pace,” Gary Walston, co-founder of Dolphin Debit, said in a statement. “We are seeing even stronger growth in the past couple of years as more and more credit unions and banks are deciding that outsourcing their ATM fleets is the best strategy in light of continuing regulatory changes, as well as next year’s switch to the Windows 10 operating system.”
Thanks to the acquisition, Dolphin Debit will add an additional 65 financial institutions to its roster of clients. Founded in 2005, Dolphin Debit manages ATMs for hundreds of financial institutions nationwide.
Outsource primarily served credit unions and banks in Louisiana and Texas, all of whom have transitioned to Dolphin Debit. Outsource is based in Cypress, Texas, near Houston. The company's president, Troy LeBlanc, will now focus efforts on leading Outsource Technology, a separate operation he owns that also provides ATM maintenance and service.
“I have known and interacted with the people at Dolphin Debit for almost 20 years,” LeBlanc said in a press release. “I know that the valued clients that we have worked with for years will be in good hands with Dolphin.”
According to Walston, the two companies hold many similarities which should make for a seamless transition for both the companies and the clients.
“As a larger company, we can offer vast resources in the form of people, expertise, and technical capabilities to the clients that we have inherited from Outsource,” he said.
