Cardtronics buying fellow ATM owner Welch for $160M


Welch ATM has a portfolio of 26K U.S. ATMs. Acquiring the company will bring Cardtronics' (NASDAQ:CATM) total ATM portfolio to 109.6K units (92.5K in the U.S.). (PR)

Cardtronics notes the companies have 5.1K ATMs between them at Walgreens. Welch also has 3.1K Rite Aid ATMs.

Welch CEO Jeff Hewitt will join Cardtronics as an EVP responsible for "all U.S. sales and customer relationship outreach and initiatives." The all-cash deal is expected to close in Q3.

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