PORTLAND, Ore. - Aptus Financial, an ATM service provider and developer of advanced ATM functions, says that its sales grew by more than 400 percent and its ATM network expanded by more than 540 percent in 2003.
According to a news release, Aptus had sales of $5.2 million and provided service to 1,104 ATMs.
Rick Holt, the company's president, attributes its growth to an aggressive acquisition strategy, as well as new product developments.
In 2003, Aptus added more than 600 ATMs to its network with the acquisition of an unnamed ISO's ATM portfolio. The company expects to close another acquisition in early 2004, according to the release.
Aptus recently secured a $5 million line of credit and intends to use the capital for future acquisition opportunities, Holt said.
Aptus also develops and implements advanced ATM services to accompany basic ATM functions. The company offered several new products in 2003, including prepaid wireless, payroll, bill payment and money transfer applications.
