PORTLAND, Ore. – TRM Corp., which has been struggling since its acquisition of eFunds’ ATM business, said Friday it has agreed to add 3,000 more ATMs to its fleet with the acquisition of Access to Money, a Whippany, N.Y., independent ATM operator.
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TRM will finance the $15 million deal with a new $11 million credit agreement.
The deal gives TRM, which provides some 4,000 ATMs to the credit union-owned CO-OP Network, management over 12,200 ATMs in the U.S.
TRM, which has struggled financially over the past two years, is fighting a move by the Nasdaq to have its stock delisted from the exchange. The company’s shares closed Friday at just 50 cents.
