Tidel picks up Momentum

Tidel picks up Momentum
Tags: Distributors / ISO / IAD, Innovus, Inc. / Momentum Cash Systems, LLC, Manufacturers, Public Companies, easypointATM
February 6, 2002

HOUSTON - Tidel Technologies Inc. (Nasdaq: ATMS) will be the preferred ATM manufacturer for Momentum Cash Systems LLC, the ninth-largest independent ATM sales organization in the United States, as a result of a new agreement.

Momentum, which has 2,300 ATM machines in operation in 25 states, also represents and sells ATMs manufactured by Cross Technologies and Triton. Tidel executive vice president Michael Hudson said in a news release that Momentum was shifting much of its business back to Tidel after Tidel lost preferred status to a competitor a few years ago.

Momentum's president, Bob Cannon, said he expects to spend between $3 million and $4 million each year with Tidel, primarily in deploying the new is2000 ATM model.