Cardtronics said the transaction will increase its ATM network with the addition of EDC’s 3,700 ATMs, placement agreements with US retailers and ATM branding contracts.
Post acquisition, Cardtronics will have ATM branding relationships with eight of the 15 largest US banks by assets.
Cardtronics intends to fund the transaction primarily through its revolving credit facility, which was recently expanded from $175m to $220m.
The final completion of the acquisition is subject to approval, which Cardtronics expects to occur during its third quarter.
Cardtronics expects this transaction to be accretive to adjusted net income per share in 2011 and increasingly accretive in future years as synergies are fully realized.
