HOUSTON (7/28/14)--Cardtronics Inc. will acquire Welch ATM for $160 million under an agreement reached between the two companies last week.
The acquisition will add 26,000 U.S. ATMs to the Cardtronics fleet, bringing its global portfolio to 109,000, including 92,500 in the United States.
The combination of Cardtronics and Welch ATM will bring together two retail ATM services providers, with complementary customer bases and sales capabilities. Cardtronics has demonstrated success placing ATMs with national chain retailers and forming ATM branding relationships with national and international financial institutions.
Welch ATM has established its core strength around delivering ATM services to mid-market retailers such as Rite-Aid and ATM branding to mid-tier credit unions and banks.
A combined Cardtronics and Welch ATM organization will also bring together the leading providers of ATM services to Walgreens. The collective Walgreens portfolio totals 5,100 ATMs, which is a significant portion of the retailer's nationwide footprint. Additionally, Welch ATM will add 3,100 company-owned, Rite Aid-located ATMs to Cardtronics' roster of retailer locations.