Cardtronics Inc. has acquired Can-Do-Cash Ltd., a privately held ATM services company based in Ottawa, Canada. The purchase expands the Cardtronics Canada ATM portfolio by 800 cash machines — primarily in Ontario and Quebec.
The total Cardtronics Canada fleet will grow to 1,840 ATMs with the Can-Do-Cash acquisition, said a Cardtronics announcement of the deal. Previously, the company's portfolio in Canada stood at 600 with its late-2011 acquisition of Mr. Cash.
The Can-Do-Cash purchase complements the presence of Mr. Cash in western Canada with an established merchant client base — including Pioneer Energy gas and convenience stores — in eastern population centers of Ottawa, Toronto, Montreal and Quebec City.
"The acquisition of Can-Do-Cash fits well with our cost-efficient growth strategy for Canada, and gives Cardtronics a more geographically balanced presence and service network in Canada," said Steve Rathgaber, chief executive officer of Cardtronics. "Can-Do-Cash brings to Cardtronics Canada hundreds of new merchant relationships, a strong 'after-sales' service approach and a nearly flawless client retention rate since the company launched in 2000."
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