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Access to Money, Inc. (fka AEMI) RSS Feed

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--- Cardtronics to Acquire Access to Money ---
Tuesday 16 August 2011


Cardtronics, Inc. (Nasdaq:CATM) and Access to Money, Inc. (OTCBB:AEMI) today announced that they have entered into a definitive agreement under which Cardtronics USA, Inc., a wholly-owned subsidiary of Cardtronics, Inc., will acquire Access to Money.

Under the terms of the agreement, Cardtronics will acquire all of the outstanding shares of Access to Money for a cash payment of $0.285 per share and retire all of Access to Money's outstanding indebtedness. The total cost to be paid at closing will be approximately $21.2 million. The companies expect an early fourth quarter completion date for the transaction. Access to Money provides ATM services to merchants and financial institutions, currently operating approximately 10,350 ATMs in the United States.




Trust in our reliability. Gain from our experience. At Access to Money, we are committed to offering clients high quality products, innovative solutions and superior-level service for all their ATM and Financial Services needs.

Access to Money, Inc. operates the Access to Money brand ATM products and services business. With over 11,000 ATMs located throughout the United States, Access to Money offers ATM sales, leasing, placement rentals, processing, and products and services to retailers and financial institutions. Access to Money, Inc. is publicly-traded on the over the counter bulletin board market under the ticker AEMI.

Access to Money, Inc. (the "Company," "we" or "us") was incorporated in the State of Delaware on April 28, 2009. Prior to April 2009, the Company operated under the name of TRM Corporation which was incorporated in the State of Oregon on November 27, 1981. In June 2009, we consummated a merger of TRM Corporation with and into Access to Money, Inc., for the purpose of changing our state of incorporation from Oregon to Delaware and changing our name to "Access to Money, Inc."

We are an independent automated teller machine ("ATM") deployer, or "IAD", acting as the source for businesses to purchase, operate and service automated teller machines, or ATMs. We entered the ATM business in 1999 and expanded our ATM operations through internal growth and acquisitions. We have made two transformative acquisitions; the first occurring in November 2004 when we acquired 15,000 ATMs from eFunds Corporation ("eFunds"), and the second in April 2008 when we acquired approximately 4,200 ATMs from LJR Consulting Corp. d.b.a. Access To Money ("LJR"). Between 2005 and 2007, we encountered financial difficulties and had to sell assets in order to reduce debt. In June 2006, we sold our United Kingdom photocopy business. In January of 2007 we sold our United Kingdom, Canadian and German ATM businesses and our United States photocopy business. In June of 2007, we sold our Canadian photocopy business. The remaining business after the sale of the aforementioned companies and assets was the domestic ATM operations which is now our primary business.

As of December 31, 2010, we manage, own and operate approximately 10,400 ATMs in the United States. We locate our ATMs in high traffic retail environments through national merchants such as The Pantry, Inc., and through regional and locally-owned supermarkets, convenience and other stores. In addition to providing our merchant customers with supplemental revenues from transaction fees, we believe that the presence of an ATM in a merchant's store helps to promote higher foot traffic, increase impulse purchases and shopping times, and improve customer retention since the presence of an ATM will likely entice customers to make return visits to the retail site knowing they can obtain cash in the future. We attempt to maximize ATM usefulness for our customers by participating in as many electronic funds transfer networks, or EFTNs, as practical, including NYCE, Visa, MasterCard, Cirrus, Plus, American Express, Discover/Novus, STAR, Allpoint, and Moneypass.

We generate revenue primarily from transaction based fees and to a lesser extent, service and sales of ATM machines. Transaction based fees consist of (i) withdrawal fees, which are referred to the industry as surcharges or convenience fees and (ii) interchange fees which are charged to the customer's financial institution by EFTN's. [10K]

Differentiators

As with all companies, Access to Money has evolved over time. We began with the sales and support of ATM machines and expanded to a full service ATM provider and processor for independent store owners, larger retail chains, hotels, stadiums and universities.

For banks, credit unions and other financial institutions, Access to Money further developed a comprehensive program broadening our strong commitment to excellence. In addition to deploying, operating and servicing ATMs, we offer our financial institution clients a one-stop solution for new branch construction and fit outs, providing a wide range of products and services.

Access to Money has always believed that the most important part of our business is to provide superior customer service. Our highly-skilled, professionally-trained service staff is available to answer your call 24 hours a day, 365 days a year, helping to avoid any downtime by diagnosing and resolving any general ATM issue. If it is necessary for an expert technician to visit your site for a more complex repair, you can be assured our team will replace any necessary parts and bring the ATM back to working condition.

These are only some of the key ways we differ from our competition and as you explore our website, you will discover why we are one of the nation's best in our industry.

Products and Services

Retail/Financial Cash Dispensers

Full Function ATM

ATM/Kiosks

ATM Processing

Bank at School

Bank at Work

Branch Build Out

Cash Automation

Cash Management

Security

Cameras & DVRs

Fire & Alarm

Student Loan Origination

atm

 

 

atm

 

Retail/Financial Cash Dispenser

Full Function ATMs

Access to Money currently manages nearly 11,000 ATMs throughout the United States. We understand business needs vary from large multinational corporations to small chains of stores and we have the experience crafting business arrangements that benefit all parties. Say goodbye to dealing with a multitude of ATM providers, banks and services organizations to support the ATMs at your locations.

Executive Directors

Richard B. Stern is President and Chief Executive Officer, appointed June 15, 2007. Prior to serving as Chief Executive Officer, Mr. Stern served as Chief Operating Officer from November 2006 to June 2007 and Executive Vice President of Corporate Operations from October 2006 to November 2006. Mr. Stern previously served as Vice President/General Manager of Building Solutions for American Tower Corporation from August 2005 to June 2006. He held that position with SpectraSite Communications, which was acquired by American Tower, from May 2002 to August 2005. From January 2000 to May 2002, Mr. Stern served as Vice President of Real Estate, Building Division, with SpectraSite Communications.
Mr. Falcone was appointed Executive Vice President and Chief Operating Officer in April 2008, following the acquisition of LJR Consulting Corp., d.b.a. Access To Money, a company that Mr. Falcone founded in 1997 and at which he remained Chief Executive Officer until its sale. Under his leadership, Access To Money grew into one of the premier and largest independent ATM operators in the United States, a company that now operates approximately 12,000 ATMs.  Mr. Falcone has nearly 30 years of experience in operations, sales, and marketing.  He founded and operated Campus Dining Services & Vending and has owned several restaurants.  In addition, Mr. Falcone is a member of the Triton Sales and Marketing Advisory Board and Triton's Service Advisory Council.  He has been instrumental in leading the ATM industry into the 21st century.
Michael Dolan was appointed Chief Financial Officer on August 1, 2007. Prior to taking on this role, Mr. Dolan served as Senior Vice President and General Manager of Direct Group, a privately held direct mail and fulfillment services company, from September 2005 to October 2006, and Chief Financial Officer from September 1999 to August 2005. From 1989 to 1999, Mr. Dolan held several key roles with Acxiom Corporation, a multinational database, customer relationship and data content management company, including Finance Leader (from April 1993 to August 1999), Corporate Accounting Manager (from September 1989 to March 1993) and Division Controller (from August 1988 to August 1989).

 

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