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Large local ATM operator a breakeven deal

05 May 2017 4:12PM
Cardtronics, a huge US-listed company with over 233,000 ATMs across the world - including 10,800 in Australia and New Zealand - has reported its results for the quarter ended March 2017.On 6 January 2017, Cardtronics completed the acquisition of Canadian ATM fleet operator DC Payments, which in turn had earlier been aggregating a series of independent ATM operating firms, amassing the largest non-bank owned fleet in Australia.Cardtronics thus entered the Australian market on the back of its acquisition of DC Payments, which started in October last year and was declared complete on 6 January this year.As a result of this acquisition, the company greatly increased the size of its Canadian, Mexico, and UK operations and had a short, sharp foray into the Australian and New Zealand markets. The results of DC Payments operations were included in the group's consolidated statements of operations, leading up to the January 6 acquisition date. DC Payments contributed a US$0.2 million loss from operations in the three months ended March 31, 2017, including approximately US$1.2 million in acquisition-related expenses.

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