Macquarie takes Next ATM step
Macquarie Bank is once again an investor in the automatic teller machine sector in Australia, taking a 49 per cent stake in Next Payments.Next is the venture of serial ATM entrepreneur Tim Wildash, the founder of ATM Solutions.Macquarie was the outright owner of ATM Solutions from 2005 to 2007, when it sold the business to ASX-listed Customers Limited.Canadian bank DirectCash took control of Customers in 2012, shortly after the board replaced Wildash as CEO.Next Payments and Customers Limited are already skirmishing over access to sales agents and client lists, with the latter alleging, in court proceedings in Western Australia, that the WA state manager (now employed by Next), Mike Ardon, pilfered company records.The independent ATM sector is in something in a state of flux, with GRG International in financial difficulty and EzeATM (and also its supplier iCash Payments) both involved in board brawls.