Cardtronics Completes Acquisition of Columbus Data Services
CDS services more than 90,000 ATM terminals for deployers
HOUSTON -- Cardtronics Inc., a leading retail ATM owner and operator, completed its acquisition of Columbus Data Services LLC on July 1. CDS is a leading independent processor of ATM and payment-card transactions, providing leading-edge solutions to ATM sales and service organizations and financial institutions.
CDS will operate as a separate division of Cardtronics and will continue to be led by the current management team.
The acquisition of CDS adds a dedicated technology platform for servicing ATM deployers that address independent retail locations. CDS currently services more than 90,000 ATM terminals for bank and non-bank ATM deployers and has a growing base of financial institution customers for card processing services.
The mobile and online management technology offered by CDS gives its customers self-service tools to manage their ATM portfolios efficiently and in real-time. Its technology infrastructure and direct connections to all major U.S. debit and credit payment networks provides a highly scalable platform for growth.
"CDS’ … presence in processing ATMs in independent retail locations is highly complementary with Cardtronics' strength in the larger-chain retail market,” Cardtronics CEO Steve Rathgaber said. “We look forward to bringing Cardtronics' deeper resources, extensive distribution channels and differentiated ATM product set to CDS to accelerate its growth and provide greater value to its customers."
The aggregate purchase price was approximately $80 million, subject to customary closing adjustments; Cardtronics funded the acquisition with borrowings under its credit facility.
CDS, based in Dallas, is a leading ATM and issuer processor, providing ATM ISOs, financial institutions and merchants with ATM driving and management services, network gateway access and debit-card management services.
Houston-based Cardtronics owns and operates more than 111,500 retail ATMs in United States and international locations.