Cardtronics nets DC and Cashcard ATMs
The sale of the Cashcard ATM fleet in Australia to DC Payments will proceed as planned, amid a takeover - announced yesterday - of the Canadian parent of DC Payments by US ATM operator Cardtronics.Its entry to the Australian market is one rationale for the takeover, valued at US$460 million. The Cardtronics announcement pitched "Australia as an anchor market in Asia-Pacific, in addition to New Zealand," adding that "the acquisition of DC Payments [and Cashcard] would establish Australia as a new platform for growth."Cardtronics, headquartered in Houston until recently, set up a new legal base in London this year.Yesterday's article, where we reported that DC Payments was buying Cashcard, did not make it clear that the purchase covers just Cashcard's ATM fleet in Australia.First Data, via an external PR agency, advised in an email it has not sold Cashcard, but sold the ATM deployment business and its associated assets."The Cashcard entity remains wholly First Data owned," the email explained. "This means that Cashcard's participation in the industry, its memberships and all of the bilateral arrangements remain with First Data."These assets include Cashcard's exchange settlement account and the Cashcard Member Network.