News
Cashbox purchases remaining Cash4All ATMs
October 9, 2008
LONDON — Cashbox PLC, an independent ATM deployer and operator, has completed its acquisition of ATMs in the Cash4All ATM estate.
According to a news release, Cashbox now owns all 723 ATMs formerly owned by Cash4All. This purchase takes the total number of new ATMs and sites acquired since June 2008 to 864.
The total consideration payable to the Mezzanine debt holders of Cash4All will be settled with a mixture of cash and equity. Cashbox will pay £250,000 (U.S. $427,000) now, and £550,000 (U.S. $939,000) through the issuance of 9,166,667 ordinary shares.
"By the acquisition of the Cash4All business, the Cashbox estate has increased signifficantly, clearly demonstrating our determination to pursue an aggressive expansionist strategy," said Cindy Morton, chief executive of Cashbox. "We confidently expect to integrate this estate speedily into our industry-leading-technology platform and derive an early benefit from these already transacting machines."
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