Cardtronics Inc. has entered into a tentative agreement to acquire EDC ATM, a subsidiary of EDC Holding Co., for $145 million, the Houston-based ATM independent sales organization announced June 21.
Cardtronics would acquire all ownership interests in EDC’s ATM business, including some 3,700 ATMs, according to a press release. The deal also would include ATM-placement agreements with high-traffic U.S. retailers and branding contracts with large financial institutions, the release said.
Cardtronics expects the deal to increase its presence in the Midwest and Great Lakes’ region.
“This acquisition would enhance Cardtronics’ reach in more geographic regions across the U.S. and would expand our relationships in the important convenience-store market,” Cardtronics CEO Steve Rathgaber said in the release.
The acquisition is pending regulatory approval, which Cardtronics expects to receive during the third quarter, the release said.
