PONTE VEDRA, Fla. — EFT processor Global Axcess Corp. announced the acquisition of an independent ATM operator with 111 East Coast locations stretching from Massachusetts to Florida.
According to a news release, Global Axcess paid $908,000 in cash to complete the transaction with the unnamed company.
The acquisition is expected to contribute approximately $1 million in annual revenue, with an estimated $330,000 in annual EBITDA and more than $180,000 in annual income to Global Axcess.
"We continue to successfully execute our strategic business plan and expect to close the transaction of our other previously announced proposed acquisition in the near future," said Mike Dodak, CEO of Global Axcess.
Read also ...
* Wachovia Bank boosts Global Axcess' credit facility to $3 million
* Global Axcess earnings up in '04's 1st half
* Global Axcess closes loan, expands ATM branding program
