Cardtronics Inc. yesterday announced that its wholly-owned subsidiary, Cardtronics USA Inc. has acquired LocatorSearch LLC, a provider of location search technology deployed by financial institutions to help customers and members find the nearest location based on the service they seek.
Cardtronics signed and closed this transaction on Aug. 1. Financial terms of the acquisition were not disclosed.
The acquisition of LocatorSearch — founded in 2004 and based in New York — brings in-house a technology deployed by Cardtronics and Allpoint Network since 2006 to power both their Web-based and smartphone app “ATM locators.”
“The acquisition of LocatorSearch accelerates Cardtronics’ efforts to influence ATM user behavior before the transaction. By providing effective convenience marketing tools to our clients, we help consumers locate the closest cash machines when they need them most, and ultimately grow transaction volumes at Cardtronics and Allpoint Network ATMs,” said Steve Rathgaber, chief executive officer, Cardtronics.
Included in its LocatorSearch transaction, Cardtronics has acquired more than 400 contractual relationships with banks, credit unions and financial services channel partners, as well as LocatorSearch’s proprietary location search technology, capable of delivering results across Web, mobile Web, smartphone app and automated customer service platforms.
The LocatorSearch-powered Allpoint Network app is available for free download in the Android Market, Apple App Store and BlackBerry App World.
While Cardtronics’ and Allpoint Network’s area of expertise centers on ATMs, their application of LocatorSearch technology for financial institutions won’t be limited to finding the nearest cash machine.
A common deployment of LocatorSearch services aggregates location information for brick-and-mortar branch locations, as well as all the surcharge-free ATMs (regardless of ownership or network) that a bank or credit union makes available to its customers and members.
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