News

Paramount acquires certain assets of New York's CNY ATM

October 15, 2019

Paramount Management Group, an ATM operator based in Lancaster, Pennsylvania, announced that it has acquired certain assets of CNY ATM Inc.  

Founded by Tim Champa over 14 years ago, CNY is an ATM deployer in New York.

"We are very pleased to have been able to come to terms with Tim on this transaction," Jorge Fernandez, Paramount’s chief development and marketing officer, said in a press release. "CNY identified a key niche within their market and successfully grew their business over the years by providing their customers with superior services. This acquisition allows us to further grow our already large presence in the New York market and provides additional distribution channels for our value-added services through the ATM such as digital media offering as well as other self-service solutions."

"We needed a partner that could help us grow the business, ease the burden of compliance and operations while simultaneously providing the capital we need to grow and develop new solutions," Champa said. "Paramount is the perfect partner to allow us to accomplish all those goals."