Cardtronics Inc. today announced that its wholly-owned subsidiary Cardtronics Canada Ltd. has acquired Mr. Cash ATM Network Inc. The financial terms of the acquisition were not disclosed.
Mr. Cash is a privately-held company headquartered in Lethbridge, Alberta and was founded in 2005.
"Acquiring Mr. Cash and simultaneously crossing the border north into Canada is the definition of common sense expansion and writes the next chapter of Cardtronics' international story," said Steve Rathgaber, CEO, Cardtronics. "In Canada, Cardtronics gains a new market that is nearby and home to many well-known merchants and financial institutions operating on both sides of the border."
In addition to Mr. Cash's roster of existing merchant relationships, Cardtronics will also look to place Cardtronics-owned and -operated cash machines in Canada's most relevant retailers, according to a company press release.
Cardtronics signed and closed this transaction on Oct. 28.
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