News

SwipeUSA adds ATM acquisition division

April 27, 2005

SAN FRANCISCO - SWIPE USA, an ATM management firm, launched an ATM acquisition division that will concentrate on building the company's portfolio nationwide, according to a news release.

Swipe USA has machines located in six U.S. states. It expects to have a presence throughout the United States and is specifically searching for ATM portfolios to purchase.

In 2004, Swipe USA acquired Intellicash.

"The ideal targets will be ATM assets not whole companies, national areas with a critical mass, and ATM portfolios which range in size between 50 and 500 machines," said Swipe USA chief executive Ron Christensen.

The new division will be headed by Danny Parker, a financial services industry veteran. Parker will manage the company's portfolio of ATM companies and also will be responsible for negotiating partnerships and alliances, analyzing operations, projecting sales forecasts, and performing company valuations.

Before joining Swipe USA, Parker served as chief financial officer of two start-up companies, was assistant treasurer and strategic planning manager for a Fortune 1000 construction-materials firm, and was a California corporate attorney. He also has provided strategic and financial consulting.

"Having Mr. Parker on board to head our new division is directly in line with our company's strategic growth efforts," Christensen said. "We feel that Danny's proven track record of working with emerging technology brands, and his understanding of the financial services industry, will be a tremendous asset as we look to expand SWIPE's reach into new markets."