In a bid to consolidate its operations in Romania,
Euronet Worldwide Inc.
) subsidiary - Euronet Services SRL announced the acquisition of
200 ATMs from Banca Comerciala Carpatica for an undisclosed
amount. With the completion of this acquisition, the company will
have 400 ATMs across Romania, doubling its ATM count in the
Additionally, Comerciala Carpatica entered into an agreement for
participating in the shared ATM network of Euronet and also
signed a contract for point of sale (POS) acquiring and card
Euronet's sturdy financial position including its strong cash
balance will help it fund the transaction.
The company has independent networks in 13 countries and operates
as the largest pan-European independent ATM deployer (IAD).
Moreover, armed with 20 years of transaction processing
experience, diversified market and extensive infrastructure, the
company offers leading ATM asset purchase value proposition to
Including Comerciala Carpatica, five banks have now participated
in Euronet's shared ATM network. These are located across all 41
counties in Romania. Following the acquisition, Euronet will be
co-branded with all the acquired in-branch ATMs of Comerciala
Carpatica, while the off-branch acquired ATMs will be rebranded
Customers in Romania will benefit from the transaction as they
will get access to a larger network with no extra cost involved.
Besides expanding its network, the acquisition will also enhance
the service quality of Euronet. This in turn will help it capture
greater market share in the future as well as enhance its
inorganic growth profile.
Previously, in an attempt to fortify its foothold in U.K, Euronet
inked a deal to acquire HiFX in March 2014. HiFX is an online
initiated international payments and foreign exchange services
Euronet presently carries a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the same space are
Apollo Residential Mortgage, Inc.
FleetCor Technologies, Inc.
). While Apollo Residential sports a Zacks Rank #1, Cielo SA and
FleetCor Technologies carry a Zacks Rank #2 (Buy).
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