Sunday, June 19, 2016

Stargroup in addition expands network



Stargroup subsidiary megastar charge systems has bought a community of 97 ATMs, in an effort to improve the companys existing network through 38 percentage.

Stargroup is the only ASX-indexed company deploying ATM machines within the u . s . a . and these days brought its ninth consecutive file area of revenue increase.

Acquisition target CashmyATM has been running ATMs for over seven years and currently has machines deployed in New South Wales, Queensland, Northern Territory, Tasmania and Victoria.

consideration is $4.54m and Stargroup expects the deal to supply a sizable revenue windfall, with annual ATM sales expected to upward push from $7.five million to properly over $11 million subsequent economic yr.

Stargroup CEO Todd Zani said: In our notion the deal represents first rate price to Stargroup and we can hold to gather in addition small-scale however excessive pleasant ATM operations.

the acquisition may also see extra revel in introduced to the Stargroup government team with CashmyATM CEO Jason Warren set to join Stargroup as its national commercial enterprise development manager.

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