Cardtronics Balloons European ATM Network With Cardpoint Acquisition

Houston-based ATM operator Cardtronics has bought out London-based competitor Cardpoint Limited, in a deal worth $153 million.

The deal will nearly triple Cardtronics’ ATM network in Europe. Most of the new machines operate in the UK, where Cardtronics has been active since acquiring Bank Machine in 2005.

The buyout also brings the Houston company into Germany for the first time, making it the largest independent ATM operator in that country.

“This is the right time and the right asset for Cardtronics’ next growth spurt via acquisition.”

Cardtronics’ CEO Steve Rathgaber announced the purchase in a conference call.

“Sometimes, when putting companies together, one plus one really does equal a little bit more than two. We believe that these companies complement one another and blend very well. The resulting entity is stronger, not only because it is bigger and more profitable, it is stronger because it is more competent.”

The acquisition expands Cardtronics’ global ATM network by about 10%. The vast majority of its machines are in the U.S., Canada, and Mexico.


Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined News 88.7 in January 2011. Since arriving in Houston, he has reported on the many changes wrought on the region’s economy by the revolution in domestic oil and gas production. His non-energy reporting runs the gamut from white-collar crime to cattle ranching. His work has aired on...

More Information