Profile: Cardtronics Inc (CATM.O)

CATM.O on Nasdaq

22 Jul 2014
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$3.85 (+11.90%)
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Cardtronics, Inc. (Cardtronics), incorporated in June 2001, provides automated consumer financial services through its network of automated teller machines (ATMs) and multi-function financial services kiosks. As of December 31, 2011, Cardtronics were the retail ATM owner, providing services to approximately 52,900 devices throughout the United States (including the United States territories of Puerto Rico and the United States Virgin Islands), the United Kingdom, Mexico and Canada. Included within this number are approximately 2,200 multi-function financial services kiosks that, in addition to traditional ATM functions, such as cash dispensing and bank account balance inquiries, perform other consumer financial services, including bill payments, check cashing, remote deposit capture (which represents deposits taken using electronic imaging at ATMs not physically located at a bank), and money transfers. Also included in the number of devices in its network as of December 31, 2011, were approximately 4,800 ATMs, to which it provided various forms of managed services solutions. The Company has three geographical segments: United States, United Kingdom, and Other International segments (which consist of Mexico and Canada). In November 2011, it acquired Access to Money, Inc. In December 2012, the Company's wholly owned subsidiary, Cardtronics Canada, Ltd., has acquired Can-Do-Cash, Ltd. In March 2013, Cardtronics Creative UK Ltd. acquired i-design group plc Based in Scotland. In May 2013, Cardtronics Inc's Cardtronics USA, Inc acquired the assets of Aptus Financial. In June 2013, Cardtronics USA, Inc. acquired the assets of Merrimak ATM Group, LLC. In August 2013, Cardtronics Inc acquired Cardpoint Limited. In October 2013, Cardtronics Inc announced that its wholly owned subsidiary, Cardtronics USA, Inc., closed on the acquisition of ATM business assets from Chandler, Ariz.-based CGI, Inc. In February 2014, Cardtronics Inc acquired the ATM business assets of Chandler, Ariz.-based Automated Financial, LLC.

During the year ended December 31, 2011, Cardtronics acquired two ATM networks, EDC ATM Subsidiary, LLC and Efmark Deployment I, Inc. (collectively referred to as EDC). In November 2011, the Company’s wholly owned subsidiary, Cardtronics Canada, Ltd., acquired Mr. Cash ATM Network, Inc. In August, it completed the acquisition of LocatorSearch, LLC (LocatorSearch). In October, it acquired Mr. Cash ATM Network, Inc. (Mr. Cash). The Company partners with national financial institutions to brand selected ATMs and financial services kiosks within its network, including Citibank, N.A., JPMorgan Chase Bank, N.A., Sovereign Bank, N.A., SunTrust Banks, Inc., and PNC Bank, N.A. As of December 31, 2011, over 15,400 of the Company’s devices were under contract with financial institutions to place their logos on those machines, thus providing convenient surcharge-free access for their banking customers. Cardtronics USA, Inc. is the primary domestic operating subsidiary of Cardtronics, Inc.

The Company also owns and operates the Allpoint network, the surcharge-free ATM network within the United States. The Allpoint network, which has more than 43,000 participating ATMs, provides surcharge-free ATM access to customers of participating financial institutions that lack a ATM network. The Allpoint network includes a majority of the Company’s ATMs in the United States, Puerto Rico and Mexico, all of the Company’s ATMs in the United Kingdom, and over 5,000 locations in Australia through a partnership with a local ATM owner and operator in that market. Allpoint also works with financial institutions that manage stored-value debit card programs on behalf of corporate entities and governmental agencies, including general purpose, payroll and electronic benefits transfer (EBT) cards. Under these programs, the issuing financial institutions pay Allpoint a fee per issued stored-value card in return for allowing the users of those cards surcharge-free access to Allpoint’s participating ATM network.

The Company competes with Payment Alliance International, Global Cash Access Holdings, Banamex, Bancomer, HSBC, Notemachine, Paypoint, Royal Bank of Scotland, Barclays, Lloyds, Cashzone, Access to Money, Inc., DirectCash Payments Inc. and GabEZEE ATM.

Company Address

Cardtronics Inc

Suite 400, 3250 Briarpark Drive
HOUSTON   TX   77042
P: +1832.3084000
F: +1832.3084001

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