A Bank Of America Corp. Branch Ahead Of Earnings Figures
Christopher Dilts — Bloomberg via Getty Images

This Global ATM Giant Is Expanding in Canada With $460 Million Acquisition

Oct 03, 2016

Cardtronics, which describes itself as the world's biggest operator of non-bank ATMs, said on Monday it would buy independent Canadian ATM owner DirectCash Payments (DCPayments) in a deal valued at about $460 million including debt to boost its presence in Canada and the United Kingdom.

Cardtronics said it would pay C$19 per share for Calgary-based DCPayments, a premium of 48% to DCPayments' close on Friday. The stock was trading around the offer price on Monday.

The deal, which includes debt of about $53 million, is expected to be immediately accretive to adjusted net income per share, U.K.-domiciled Cardtronics said.

DCPayments has about 25,000 ATMs around the world, primarily in Australia, Canada, and the United Kingdom.

The combined companies would have about 225,000 ATMs in North America, Europe, and the Asia Pacific, the companies said.

Get Data Sheet, Fortune’s technology newsletter

The deal, which is expected to close early in the first quarter of 2017, includes DCPayments' recent acquisition of 3,500 ATMs in Australia from First Data.

RBC Capital Markets was Cardtronics' financial adviser and Baker & McKenzie was its legal counsel. BMO Capital Markets advised DCPayments, while Bennett Jones was its legal adviser.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions