News

Canadian ATM operator announces acquisition

Olympia ATM says that it has acquired the assets of a private operator for CA$1.69 million.

May 15, 2015

Canadian IAD Olympia ATM Inc., a wholly owned subsidiary of Olympia Financial Group Inc., has acquired a portfolio of ATM assets, inventory and vault cash from a private company. A press release about the acquisition did not disclose the name of the acquired company, which was purchased with aggregate proceeds of CA$1.69 million ($1.40 million).

Upon completion of the acquisition, Olympia ATM will have 376 sites at which it provides processing, cash loading, maintenance or others services, the press release said. 

Olympia Financial Group Inc. formed Olympia ATM Inc. in late 2014, with the stated intention of building an ATM distribution network and acquiring existing ATM assets from smaller operators in industry in order to grow its portfolio. 

Olympia Financial Group Inc. conducts most of its operations through Olympia Trust Company, which is licensed in locations across Canada. Among other functions, Olympia Trust Company offers foreign currency exchange services and operates an ATM business through its wholly-owned subsidiary Olympia ATM Inc.