STRATEGIC PARTNERS
February 24, 2002
NEW YORK -- American Express has acquired the ATM business from three companies, as part of a plan to significantly expand its ATM program throughout the U.S.
The companies are: Zions Bancorporation, with 140 ATMs at Maverik Country Stores in seven states in the western United States; AmeriCash LLC, with approximately 650 ATMs in a variety of retail mall locations including Simon Property Group, General Growth Properties, Inc. and a variety of supermarkets; and Electronic Data Systems Corporation, from which American Express purchased a portion of its ATM business, including approximately 2,000 ATMs in a wide range of retail outlets including A&P/Food Emporium supermarkets and Target stores.
The new acquisitions add more than 2,740 ATM machines to American Express' ATM network and allow American Express Cardmembers, as well as holders of other types of bankcards to access cash and other services.
Terms of the transactions were not disclosed.
