News

Euronet Worldwide acquires UK-based YourCash Europe ATM network

October 13, 2016

Euronet Worldwide Inc., a global electronic payments provider, has completed its acquisition of the U.K.-based ATM operator YourCash Europe Ltd.

According to a press release, the acquisition includes approximately 5,000 ATMs located in the U.K., Netherlands, Belgium and Ireland.

With the addition of YourCash, Euronet will operate independent ATM networks in 21 European countries.

YourCash will benefit from Euronet's ATM processing capabilities, large-scale operational expertise, and additional capital for ATM deployments, the release said.

The company also will gain access to the Euronet technology platform, which will enable the deployment of new value-added products on YourCash ATMs and diversify the company's value proposition to retail and banking partners.

"YourCash has a management team that shares our vision of bringing financial convenience to customers, and has a proven track record of delivering strong growth in new and existing markets," said Nikos Fountas, Euronet executive vice president and chief executive officer for EFT in Europe. "This is a great opportunity to leverage the benefits that each organization brings to the partnership in order to expand Euronet's ATM coverage across Europe, create additional value for all of our customers, accelerate revenue growth, and achieve market synergies across the businesses."

Not including YourCash machines, Euronet operates nearly 26,000 ATMs in 50 countries and provides services to approximately 185,000 ATMs around the world, according to the release.