MONTREAL - Frisco Bay Industries Ltd., an automated teller machine company, has acquired the ATM network of Gava ATM Ltd., which owns ATMs at 98 sites in Quebec.
According to Frisco, the additional ATMs will be incorporated into the network operated by Frisco/ATMS, a joint venture between Frisco Bay Industries and G.M. Automated Teller Machines Inc.
The additional sites bring the Frisco Bay Canadian network of machines to over 600 units, the company said. On the basis of current volumes, Frisco Bay projects that it will process over six million transactions this year.
Ron Waxman, vice chairman of Frisco Bay, said the acquisition "greatly increases our market share of ATMs in the province of Quebec and solidifies our goal of capturing prime real estate locations throughout Quebec and the rest of Canada."