News

Aptus in ATM acquisition mode

April 30, 2003

PORTLAND, Ore. -- Aptus Financial, a provider of traditional and advanced-function financial services applications for electronic funds transfer processors, wireless carriers and ATM manufacturers, acquired five ATM portfolios in the first quarter of 2003.

The portfolios include more than 300 ATMs in California, Illinois and the East Coast that generate more than $1.67 million in annual revenue, according to a news release.

In December 2002, Aptus raised capital and launched an acquisition division headed by Matthew Buhler, a former executive with Card Capture Services and E*Trade Access.

According to the release, Aptus continues to seek additional portfolios, preferably in the range of 50 to 2,000 ATMs.

"We anticipate acquisitions will be an area of aggressive growth for Aptus for some time," said Rick Holt, president of Aptus Financial. Holt said he expects Aptus to acquire an additional 3,000 to 5,000 ATM locations over the next 18 to 24 months.