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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