News

Aussie IADs wrap up merger, roll out growth plan

iCash and Stargroup will consolidate under the Stargroup name as they roll out the Korean CashPod recycling ATM under a distribution deal.

August 11, 2015

Australian IADs iCash and Stargroup have announced the completion of their merger and the pending rollout of a five-point growth plan, according to Business News.

The plan includes exclusive distribution rights in Australia and New Zealand for the CashPod, a midsize, high traffic cash recycling ATM produced by Korean manufacturer NeoICP Inc.

Additionally, the merged company, which will operate under the Stargroup name, is preparing to enter the EFTPOS market under a wholesale agreement with what the report called a "significant" switch provider.

The report said that the company plans to continue to grow through future mergers and acquisitions of smaller IADs.