News

TRM enters Canadian market with purchase of 72 ATM sites

June 16, 2004

PORTLAND, Ore. - TRM Corporation (Nasdaq: TRMM) has acquired Mighty Cash Financial, a Canadian ATM operator. This acquisition marks TRM's entry into the Canadian ATM market.

"Mighty Cash represents our first cross-border expansion since entry into the United Kingdom five years ago," said Dan Tierney, TRM's executive vice president.

TRM paid an undisclosed amount of cash for Mighty Cash's 72 ATM locations comprised primarily of merchant-owned programs.

TRM will use its existing field service and sales infrastructure, which now services more than 3,000 in-store photocopy locations throughout Canada, to support the ATM network.

In April, TRM purchased contracts for 450 ATM sites in the UK from Inkas Financial Corp.  and 20 ATM sites in the United States from a privately-held ISO. The Inkas purchase made TRM one of the UK's largest ATM providers with 3,100 ATMs, both merchant-owned and placement programs. (See related story TRM buys ATM contracts in U.S., UK)