News

Cardtronics buys ATM assets of CGI

October 2, 2013

Cardtronics USA Inc., a wholly owned subsidiary of Cardtronics Inc., has closed on the acquisition of ATM business assets from Chandler, Ariz.-based operator CGI Inc. The purchase adds approximately 1,000 merchant-owned ATMs to the company's U.S. fleet. 

The addition of CGI Direct ATMs to the Cardtronics portfolio reflects the company's ongoing growth plan for its merchant-owned ATM business. 

Earlier this year, Cardtronics purchased two other industry independents:

• on May 1, the company closed on its acquisition of Portland, Ore.-based Aptus Aptus Financial, which netted 3,300 mostly merchant-owned cash machines;
• on June 3, the company finalized its purchase of independent ATM deployer Merrimak ATM Group LLC of Rohnert, Calif., acquiring an additional 4,800 of mostly merchant-owned ATMs.

In late August, the company launched an internal Enterprise Growth Group tasked with the development of strategic initiatives that will generate "sustained, profitable growth."

The CGI purchase increases the the number of merchant-owned cash machines under Cardtronics management to more than 22,600. Currently, the company supports a total fleet of 64,300 company-owned or managed retail ATMs in the United States.

The transaction was signed and closed on Oct. 1; terms of the deal were not disclosed. All CGI Direct ATM cash machines will be converted to the Cardtronics brand.

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