Cardtronics Buys LocatorSearch LLC to Enhance Convenience Marketing Capabilities
August 02 2011 - 4:15PM
Cardtronics, Inc. (Nasdaq:CATM) today announced that its
wholly-owned subsidiary, Cardtronics USA, Inc. has acquired
LocatorSearch, LLC, a leading provider of location search
technology deployed by financial institutions to help customers and
members find the nearest, most appropriate and convenient location
based on the service they seek. Financial terms of the acquisition
were not disclosed.
The acquisition of LocatorSearch - founded in 2004 and based in
New York - brings in-house a technology deployed by
Cardtronics and Allpoint Network since 2006 to power both their
Web-based and smartphone app "ATM locators." Included in its
LocatorSearch transaction, Cardtronics has acquired more than 400
contractual relationships with banks, credit unions and financial
services channel partners, as well as LocatorSearch's proprietary
location search technology, capable of delivering results across
Web, mobile Web, smartphone app, and automated customer service
platforms.
- Try it out: The LocatorSearch-powered Allpoint Network app is
available for free download in the Android Market, Apple App Store
and BlackBerry App World.
"The acquisition of LocatorSearch accelerates Cardtronics'
efforts to influence ATM user behavior before the transaction. By
providing effective convenience marketing tools to our clients, we
help consumers locate the closest cash machines when they need them
most, and ultimately grow transaction volumes at Cardtronics and
Allpoint Network ATMs," said Steve Rathgaber, chief executive
officer, Cardtronics. "While thousands of ATMs help make cash
access handy in theory, it's the ability to easily locate the
nearest cash machine on-demand that makes a financial
institution-branded Cardtronics ATM or Allpoint Network
surcharge-free ATM convenient in practice."
Branch Offices + Surcharge-Free ATMs
While Cardtronics' and Allpoint Network's area of expertise
centers on ATMs, their application of LocatorSearch technology for
financial institutions won't be limited to finding the nearest cash
machine. A common deployment of LocatorSearch services aggregates
location information for brick-and-mortar branch locations, as well
as all the surcharge-free ATMs (regardless of ownership or network)
that a bank or credit union makes available to its customers and
members.
- Try it out: http://bit.ly/orlXY4 – (Branch locations +
ATMs)
- Try it out: http://bit.ly/f9D2Tm – (Branch locations + Bank
ATMs + Surcharge-Free ATMs)
Branch Offices + Surcharge-Free ATMs + Featured
Services
Beyond branch locations, financial institution-owned ATMs and
surcharge-free network cash machines, Cardtronics can also now
aggregate all a financial institution's customer service
touch-points, products and services into a single location-based
search tool. Branch locations, credit union service centers, safe
deposit boxes, deposit taking ATMs etc. -- with LocatorSearch
added to Cardtronics' solution suite, the company has advanced its
capabilities around helping financial institutions connect with
customers.
- Try it out: http://bit.ly/qZAoa7 – (Branch locations +
Surcharge-Free ATMs + Deposit ATMs)
- Try it out: http://bit.ly/oJmXIA – (Branch + Shared
Branching + Deposit ATMs + Surcharge-Free)
- Try it out: http://bit.ly/oO6oTJ – (Branch + Bank ATMs +
Surcharge-Free + Coin Counters)
"Helping businesses lead their customers to the nearest
location -- that is the essence of LocatorSearch and something
that the financial institutions and retailers that comprise
Cardtronics' client base want to do," said Karl Kraus, president,
LocatorSearch. "Cardtronics and Allpoint Network already operate
the most convenient retail-located ATMs. Now that LocatorSearch is
part of Cardtronics, we can work together to help financial
institutions market that convenience to their customers and
members, as well as give consumers the tools to find their
branches, products and services quickly and easily."
LocatorSearch Application Integration &
Development
Karl Kraus and Purvesh Patel, the founders of LocatorSearch and
developers of its proprietary technology, joined Cardtronics as
part of this transaction. In their roles with the company, Kraus
and Patel will immediately apply their deep expertise to integrate
LocatorSearch applications into Cardtronics' suite of ATM
solutions, as well as leverage the technology to deploy solutions
benefiting the company's retailer and merchant customers, as well
as ATM network channel partners.
Transaction Details
Cardtronics signed and closed this transaction on Aug. 1.
Financial terms of the acquisition are not material to Cardtronics
and have not been disclosed.
About LocatorSearch
LocatorSearch provides the financial services industry with
embedded "locator search" applications – enabling customers and
members to quickly find the nearest branch office, ATM,
surcharge-free ATM network or any other featured service.
LocatorSearch technology can deliver location search results across
Web, mobile Web, smartphone app, and automated customer service
platforms (IVR). For more information visit
www.locatorsearch.com
About Cardtronics, Inc.
Cardtronics (Nasdaq:CATM) is the world's largest non-bank owner
of ATMs. The Company operates over 37,100 ATMs in the United
States, the United Kingdom, Mexico, and the Caribbean, primarily
with well-known retailers such as 7-Eleven, Chevron, Costco,
CVS/pharmacy, ExxonMobil, Hess, Rite Aid, Safeway, Target, and
Walgreens. Cardtronics also assists in the operation of
approximately 4,300 ATMs under managed services contracts with
customers such as Kroger, Travelex, and Circle K. In addition
to its retail ATM operations, the Company provides services to
large and small banks, credit unions, and prepaid card issuers,
allowing them to place their brands on 14,900 Cardtronics' ATMs and
providing surcharge-free access through Cardtronics' Allpoint
Network. www.cardtronics.com.
The Cardtronics logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=991
CONTACT: Cardtronics - Media
Nick Pappathopoulos
Director - Public Relations
832-308-4396
npappathopoulos@cardtronics.com
Cardtronics - Investors
Chris Brewster
Chief Financial Officer
832-308-4128
cbrewster@cardtronics.com
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