Euronet acquires Easycash
OREANDA-NEWS. May 15, 2018.Euronet Worldwide, Inc. (NASDAQ:EEFT), a leading global electronic payments provider, announces the acquisition of approximately 400 Easycash branded ATMs in Ireland, from Ulster Bank.
The Easycash ATMs are deployed nationwide in prime retail locations and will be a substantial addition to Euronet’s Irish market presence. The Easycash ATMs will be migrated and fully integrated within the current Euronet network in the coming months without any expected disruption in service. Euronet’s technology platform offers an enhanced suite of ATM Value Added Services such as cash deposits, foreign currency dispensing, event ticketing, promotional advertisements and other auxiliary services. After migrating the ATMs, Euronet will look to offer these services to Irish merchants and customers. Euronet currently operates both the YourCash and Euronet ATM brands in Ireland, and with the acquisition of Easycash, Euronet’s Irish network will comprise about 15% of the ATMs in Ireland.
"We are excited to further increase our presence in Ireland. Acquiring an established offsite ATM network from Ulster Bank, and integrating it within our existing ATM assets in the region, is an extension of our strategy to widen the reach of our sophisticated pan-European independently deployed ATM network,” stated Mr. Nikos Fountas Euronet’s Executive Vice President and Chief Executive Officer EFT, EMEA Division. “We remain committed to offering our enhanced suite of ATM services to Banks, merchants, and consumers across all markets where we operate.”
Chris Wilson, Managing Director of Retail Banking, Ulster Bank said, “Ulster Bank has completed the sale of its Easycash ATM estate of standalone remote ATMs to YourCash, a member of the Euronet Group. Ulster Bank will continue to operate its own brand estate of ATMs and we will pursue our strategy of enhanced and innovative digital and branch located customer offerings.”
About Ulster Bank
Ulster Bank Ireland DAC. Operates in Ireland as Ulster Bank, Ulster Bank Group, Banc Uladh and Lombard. Registered in Republic of Ireland. Registered No.25766. Registered Office: Ulster Bank Group Centre, George's Quay, Dublin 2, D02 VR98. Ulster Bank Ireland DAC is regulated by the Central Bank of Ireland.
About Euronet Worldwide, Inc.
Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, cash-based and online-initiated consumer-to-consumer and business-to-business money transfer services, and electronic distribution of prepaid mobile phone time and other prepaid products.