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Global Axcess gets paid for South African subsidiary sale
April 3, 2007
PONTE VEDRA BEACH, Fla. - Global Axcess Corp. has received $175,000 in escrowed proceeds relating to the sale of its South African subsidiary, Cash Axcess Corp. Ltd. The company sold the subsidiary to Coin Security Group Ltd. and says it plans to post the income to its first quarter results for 2007.
"We are pleased to conclude a transaction that benefits our first quarter 2007 financials and allows us to continue our strategy of creating value through managing ATMs in the U.S.," said George McQuain, GAXC's president and chief executive.
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