News

Swipe USA acquires IntelliCash ATM portfolio

February 24, 2004

SAN FRANCISCO - Swipe USA, LLC, San Francisco's largest ATM ISO, has acquired the ATM portfolio belonging to San Ramon, Calif.-based ISO IntelliCash ATM, Inc.

Boston-based Tremont Capital Group, Inc., a firm that specializes in providing strategic planning and merger and acquisition advisory services to the ATM industry, served as an advisor to IntelliCash ATM in the transaction, according to a news release.

Founded in 1996, IntelliCash ATM is managed by Bernard Uiterwijk (widely known in the ATM industry as "the Dutchman") and his wife, Joan Partridge.

"We are excited to add all of IntelliCash's high-volume ATMs to Swipe's portfolio," said Ron Christensen, president and chief executive of Swipe USA. "This deal was the first step of our strategy to acquire several ATM portfolios and also serves to increase Swipe's market presence in California."

"It was very important to us to find a local ATM company we knew would take good care of our clients," said Bernard Uiterwijk, president of IntelliCash.

Financial terms of the agreement and other details were not disclosed.