News

Access to Money acquires Calif. portfolio; now manages more than 5,500 ATMs

July 19, 2004

WHIPPANY, N.J. - Access to Money, Inc., one of the nation's largest ATM independent sales organizations (ISOs), has acquired an ATM portfolio owned by an undisclosed California-based ISO.

With this acquisition, Access to Money will now manage more than 5,500 ATMs under contract nationwide.

"This deal will significantly increase our presence on the West Coast," said Douglas Falcone, president and CEO of Access to Money. "We were most attracted to the seller's excellent reputation for integrity and strong customer service."

Boston-based Tremont Capital Group, 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.

Financial terms of the agreement and other details were not disclosed.