ACFN, an independent ATM deployer, today announced its acquisition of various ATM assets owned by an undisclosed East Coast-based IAD. With this portfolio acquisition, ACFN will now have a network of more than 1,600 locations nationwide, according to a press release.
Boston, Mass.-based Tremont Capital Group Inc., a firm that specializes in providing strategic planning and merger and acquisition advisory services to the ATM industry, advised and represented the seller in the transaction and served as the broker to the deal.
"The assets in this acquisition were a very good fit for ACFN, complementing and expanding our core business," said Jeffrey Kerr, president and CEO of ACFN. "We specialize in full service placement relationships where our unique business model provides ACFN with a sustainable competitive advantage."
Financial terms of the agreement and other details were not disclosed.
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