Cardtronics USA, a wholly owned subsidiary of Cardtronics Inc. (CATM - Free Report) purchased the assets of Rohnert Park, Calif. based Merrimak ATM Group, LLC.
Merrimak provides ATM sales, transaction processing and ATM managed service to 4,800 ATMs across the nation. Though the transaction culminated on Jun 3, details remain undisclosed.
Cardtronics, the world's largest retail ATM owner, strives to provide convenient cash access and to meet its target has been on an acquisition spree. Early last month, it purchased the assets of Portland, Ore.-based Aptus Financial. Aptus Financial serves 3,300 ATMs across the nation. At the end of the first quarter of 2013, Cardtronics owned /operated about 62,600 retail ATMs worldwide.
Moreover, as a part of ATM branding, in early April, Scotiabank added 500 Cardtronics cash machines to the Scotiabank Mexico ATM network. This embarked Cardtronics’ efforts to move beyond branding and servicing relationships in Canada, Puerto Rico and the Caribbean to branding in Mexico.
Cardtronics’ ATM operating revenues in the first quarter improved 9% year over year, driven by increased unit count as a result of organic growth with new and existing merchants. We expect the number to ramp up going forward given numerous such acquisitions.
The company expects to post $1.72 to $1.79 per share in earnings on revenues of $835.0 million to $850.0 million in 2013. The Zacks Consensus Estimate projects earnings of $1.61.
Cardtronics carries a Zacks Rank # 2 (Buy). Business Service providers Essex Rental Corp. , ExamWorks Group, Inc. and RPX Corporation share the same Zacks Rank.