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GAXC...News...Global Axcess Corp Completes Two Acquisitions, Expanding ATM and DVD Kiosk Businesses

Global Axcess Corp (OTCBB:GAXC)
Intraday Stock Chart
Today : Friday 14 January 2011
Global Axcess Corp (OTC Bulletin Board: GAXC); (the "Company"), an independent provider of self-service kiosk solutions, today announced that it has completed two accretive acquisitions, expanding its ATM and DVD kiosk businesses. Global Axcess closed the asset purchase of a portfolio of 140 ATMs from an undisclosed, privately held nationwide network of automated financial service terminals, effective December 1, 2010. In addition, effective January 1, 2011, the Company completed the acquisition of Tejas Video Partners ("Tejas"), a privately held firm operating in the unattended DVD rental kiosk business.

The ATM purchase includes terminals as well as the existing relationships with a large, global oil and gas company to manage ATMs at service station locations in three Midwestern states. The 260 DVD rental kiosks acquisition brings the Company's total number of deployed DVD kiosks to approximately 600 and represents substantial opportunity to grow kiosk business, primarily at U.S. military facilities. The Company's total DVD kiosk portfolio will be located at a combination of highly attractive grocery store chains and highly sought after locations on U.S. military bases.

Mr. George McQuain, Chief Executive Officer of Global Axcess, commented, "These two strategic acquisitions have expanded our self-service kiosk base substantially and have greatly expanded our market opportunities and provided a foothold into new markets and regions. We continue to build our critical mass in the DVD kiosk market, and that should ultimately benefit us as well. We have the opportunity to benefit from satisfied customers and long-term relationships with both of these acquisitions and look forward to continuing to provide our superior customer service and operational excellence."

Additional details and terms regarding the transactions are included in the Form 8-K filed with the Securities and Exchange Commission.

About Global Axcess Corp

Headquartered in Jacksonville, Florida, Global Axcess Corp was founded in 2001 with a mission to emerge as the leading independent provider of self-service kiosk services in the United States. The Company provides turnkey ATM and other self-service kiosk management solutions that include cash and inventory management, project and account management services. Global Axcess Corp currently owns, manages or operates approximately 5,300 ATMs and other self-service kiosks in its national network spanning 43 states. For more information on the Company, please visit http://www.globalaxcess.biz. For more information on Nationwide Money Services, please visit http://www.nationwidemoney.com.

Investor Relations Contacts:

Sharon Jackson: 904-395-1149

[e-mail]


Hayden IR:

Brett Maas or Jeff Stanlis: [phone]

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This press release may contain forward-looking statements. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as: "believes," "expects," "may," "will," "should," or "anticipates," or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. Various important risks and uncertainties may cause the Company's actual results to differ materially from the results indicated by these forward-looking statements. For a list and description of the risks and uncertainties the Company faces, please refer to Part I, Item 1 of the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 3, 2010, and other filings that have been filed with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, and such statements are current only as of the date they are made.

SOURCE Global Axcess Corp

http://ih.advfn.com/p.php?pid=nmona&article=46023548