News

Acquisition makes Swedish IAD Nordic region's 2nd biggest

March 9, 2012

Kontanten AB, Sweden’s largest independent ATM operator, today announced its acquisition of ATM Net, Norway’s leading operator of ATMs, from Point. The purchase increases the Kontanten's presence in the Nordic market by 50 percent with approximately 1,000 ATM’s in Norway, Finland and Sweden, and makes the company the second largest player in the Nordics.  

"The acquisition in Norway gives us a stable ground for further expansion in the Nordics," said Gunnar Jacobson, CEO at Kontanten. "We aim at a 20-30 percent annual growth, the same pace we’ve had so far, and I see no reason to diminish those goals."

Jacobson said that he saw the possibility ahead for fast growth, not only organically in Kontanten's three markets, but also through the acquisition of contracts to provide outsourced ATM services to Nordic banks. "The trend in Europe is outsourcing of ATM operation and management to specialists who are cost effective," he said.

In January, Skandiabanken was the first bank in Sweden to outsource its ATMs when it inked an agreement with Kontanten for operation and management. 

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