Cardtronics acquires 7-Eleven US ATM portfolio

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Published at: www.finextra.com

Cardtronics Acquires Largest "C-Store" 7-Eleven's ATM Fleet, Market Share & Transactions Volumes

June 7, 2007

Analysis by: GLG Expert Contributor

Key Implications: Cardtronics expands its geographic reach, market share and transactions volumes with the acquisition of C-store 7-eleven's ATM fleet of 5,500 ATMs and financial services kiosks for $135 million. 7-eleven owns and operates the largest C-store ATM fleet and provides financial services via its financial services kiosks to a large portion of the 80 million unbanked/underserved consumers, who lack a bank account or banking relationship and turn to C-stores such as 7-eleven to pay their bills, cash their checks, top-up their prepaid mobile phones, make cash withdrawals and transfer money to their relatives back home. In the U.S., ATM ISOs account for 195,000 of the approximately 400,000 ATMs and Cardtronics acquisition will expand their ATM portfolio to over 30,000 ATMs, with transactions volumes averaging over 400 transactions per ATM in 2006 and the 7-eleven deal may significantly increase their per ATM transactions volumes, market share and branding contracts.