PAI expands ATM portfolio through acquisition of hometown IAD
Payment Alliance International, a provider of electronic payment processing solutions, has acquired independent ATM operator Avery Scott LLC. Both companies are based in Louisville, Kentucky.
The acquisition adds more than 400 ATM locations in the Louisville metro and surrounding areas to the PAI portfolio, which includes more than 74,000 ATMs nationwide, according to a press release.
"Avery Scott and its leadership team have provided retail ATM services to the Louisville market for more than 20 years, and we are excited to bring our company strength and expanded product line to both new and existing Avery Scott customers," PAI President and CEO John J. Leehy III said in the release. " … [T]his hometown acquisition is extra special for all of us and brings marquis clients such as the Louisville Zoo, Jewish Hospital and Slugger Field, to name a few."
Avery Scott CEO John Fadel also expressed enthusiasm about the ATM solutions gained through the sale to PAI.
"We're thrilled to be able to provide ATM users with new and exclusive technologies, such as cardless mobile phone ATM transactions, dynamic currency conversion for foreign cards, as well as point-of-sale and mobile payment solutions designed to add substantial value for today's busy retailers," he said.
Employees and affiliates of Avery Scott are being retained, the release said. Terms of the agreement were not disclosed.
Topics: Distributors / ISO / IAD
Companies: Payment Alliance International