News

Global Axcess to scoop up 700-ATM firm

June 15, 2004

PONTE VEDRA BEACH, Fla.-Global Axcess Corp. announced on June 15 that it signed a letter of intent to acquire a privately held company operating a network of about 700 ATMs.

According to a news release, this will be the third acquisition of the year for the company, which owns and operates more than 2,500 ATMs in a 39-state network.

Global Axcess officials did not reveal the identity of the company, but the release said it generates about $6 million in annual revenue. The purchase should be completed by Sept. 1.

"As we continue to successfully execute on our strategic business plan, Global Axcess has been carefully evaluating a number of exciting expansion opportunities," said CEO Michael Dodak, in the release. "When presented with this acquisition candidate, we recognized that it was a company that fit perfectly into Global Axcess' business model."

Dodak also stated in the release that the company could acquire other businesses this year.