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Euronet expands ATM network in Poland with acquisition, outsourcing deals

September 4, 2018

Euronet Worldwide Inc.has announced ATM asset purchase and ATM outsourcing agreements with Aplitt Spolka Akcyjna, a provider of financial services to the Polish market.

Through the agreement, Euronet will acquire 167 off-premises ATMs, currently operating under the Global Cash brand in high-traffic locations across the country, according to a press release. Euronet will rebrand the ATMs, which will join the company's independent ATM network.

Additionally, Euronet signed an ATM outsourcing and network participation agreement for 304 ATMs operating under the Skok24 brand. These ATMs are located at branches of the Kasa Stefczyka cooperative bank and will be co-branded with the Euronet and Skok24 brands.

Euronet will provide a full end-to-end managed service for the outsourced ATMs including 24/7 customer support service. Over time, Euronet will replace and upgrade certain of the Skok ATM units into full self-service automated deposit terminals.

Skok will expand its customer touch points though participation in the nationwide Euronet network, which now accounts for more than 8,000 ATMs and ADTs in Poland.

The Skok deal follows two ATM outsourcing agreement and network participation agreements Euronet signed earlier this year. The first included 193 in-branch ADTs owned and operated by Credit Agricole in Poland. Following the deal, Credit Agricole now outsources the operation of 555 ATMs and ADTs to Euronet in Poland.

The second deal included 260 Piraeus Bank ATMs in Romania that were previously operated by the bank. With these three outsourcing agreements, Euronet has now added more than 750 outsourcing ATMs to date in 2018.

The company's global network now includes 41,205 ATMs.

"We are excited to further increase our independent ATM network in Europe with ATM outsourcing and ATM asset acquiring from forward-looking banks and FIs," Nikos Fountas, executive vice president and CEO of the EMEA EFT processing segment of Euronet, said in the release. "This proves our strategy of being a catalyst of the ATM consolidation wave. We have the resources, the know-how and a solid value proposition for financial institutions to compete in the new challenging market conditions."