Coinstar Acquires CellCards Of Illinois

Monday 15 March 2004 14:36 CET | News

Coinstar has aquired CellCards of Illinois, formerly a majority owned subsidiary of American Payment Systems, and one of United States largest distributors of prepaid products.

The acquisition adds new drug store point-of-sale locations, and combined with Coinstars existing kiosk network, brings the Companys total number of distribution points to approximately 25,000 in North America. In addition, Coinstar will broaden its prepaid product offerings, and provide an in-lane product delivery option to all of its retailers. As part of the acquisition, Coinstar has engaged the services of ATM industry veteran and founder of Cash Resources, Sam Jonas, to accelerate the integration and expansion of the CellCards business. CellCards is a wholly-owned subsidiary of Coinstar and the management team has signed employment agreements with Coinstar and will continue to operate the business based in Chicago.

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Categories: Payments & Commerce | Payments General
Countries: World
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