HOUSTON -- Tidel Technologies, Inc. (Nasdaq: ATMS) has entered into an exclusive marketing agreement with ATM Center, Inc., the 27th such exclusive or preferred distribution deal completed by Tidel in recent months.
The deal begins the second phase of an existing relationship with the New Jersey-based ISO that began last year when Tidel shipped an initial order to ATM Center to replace an installation of units previously purchased from a competing manufacturer.
Bruce G. Kreeger, president of ATM Center, said, "We have put capital resources and debt facilities in place for an aggregate commitment of $5 million toward our current ATM sales and placement programs for the remainder of this year and into 2002."
Michael Hudson, executive vice president of Tidel, said, "By stocking Tidel product on a volume basis, ATM Center expects sales will increase due to their ability to provide faster delivery to customers. We believe this relationship will help strengthen Tidel's position in the domestic off-premise market, particularly in the Atlantic seaboard states."
ATM Center, Inc. offers ATM equipment, service, supplies and replenishment to most states in the contiguous U.S. ATM Center has regional offices in New England, California, Florida and Virginia, with more offices scheduled to open this year.
