Global Axcess to Acquire Independent ATM Operator

Friday 16 April 2004 00:22 CET | News

Global Axcess has signed a formal letter of intent to acquire an independent ATM company which owns and operates 166 ATM sites stationed up and down the East Coast from Massachusetts to Florida.

Subject to comprehensive due diligence and subsequent board approval, the acquisition is expected to be completed on or before June 15, 2004. The proposed terms have not been disclosed at this time. Based on its historical financial results, the acquisition is expected to contribute approximately $1 million in annual revenue, about $330,000 of annual EBITDA and over $180,000 in annual income to Global Axcess.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce