News

Global Axcess picks up ATM portfolios, adding 50 sites

January 9, 2012

Global Axcess Corp., an independent provider of self-service kiosk solutions, today announced that it has purchased an additional 50 ATM sites from undisclosed, privately held nationwide networks of automated financial service terminals.

According to a press release, Global Axcess purchased the ATMs and existing relationships to manage ATMs at service station locations in the West and mid-Western states. This was the second and third acquisition from these nationwide networks, respectively.

The asset purchases, which closed at the end of December, should add approximately $400,000 in combined revenue and $100,000 in combined EBITDA to Global Axcess' core ATM business, according to the release. In consideration for the ATM equipment and the contracts, Global Axcess paid a combined $215,000.

"This transaction continues our aggressive efforts to accelerate our ATM growth and profitability through additional strategic asset purchases. By acquiring another portfolio of established ATMs, we expect to quickly generate additional revenue and deliver positive EBITDA to our bottom line in 2012 and beyond," said Lock Ireland, interim chief executive officer of Global Axcess.

Global Axcess Corp. is headquartered in Jacksonville, Fla.

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