Electronic payments provider Euronet Worldwide has wrapped up the acquisition of YourCash Europe, a UK-based ATM operator.
YourCash Europe operates approximately 5,000 cash machines across the UK, Netherlands, Belgium and Ireland.
The company, which processes millions of transactions every year whilst dispensing billions of GBP and Euros to consumers via their European ATM estate, generated revenues of approximately £29m in 2015.
The combined businesses will operate independent ATM networks in 21 European countries.
Euronet chief executive officer – EFT Europe Nikos Fountas said: "YourCash has a management team that shares our vision of bringing financial convenience to customers, and has a proven track record of delivering strong growth in new and existing markets. This is a great opportunity to leverage the benefits that each organization brings to the partnership in order to expand Euronet's ATM coverage across Europe, create additional value for all of our customers, accelerate revenue growth and achieve market synergies across the businesses."
Jenny Campbell, CEO and principal shareholder of YourCash commented: "We are excited to join the Euronet family. After years of excellent organic growth and expansion into new markets, we are excited to be able to leverage Euronet's global scale, value added product portfolio, technology, industry expertise and financial strength to further expand our business."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData