For more information visit: www.globalaxcess.biz
Unedited press release follows:
Global Axcess Corp Completes Two Acquisitions, Expanding ATM and DVD Kiosk Businesses
Immediately Accretive Strategic Acquisitions of 140 ATMs and 260 DVD Kiosks to Add Approximately $6 Million in Combined Revenue and $1.5 Million in EBITDA in 2011
JACKSONVILLE, Fla., Jan. 14, 2011 — Global Axcess Corp (OTC Bulletin Board: GAXC); (the “Company”), an independent provider of self-service kiosk solutions, today announced that it has completed two accretive acquisitions, expanding its ATM and DVD kiosk businesses. Global Axcess closed the asset purchase of a portfolio of 140 ATMs from an undisclosed, privately held nationwide network of automated financial service terminals, effective December 1, 2010. In addition, effective January 1, 2011, the Company completed the acquisition of Tejas Video Partners (“Tejas”), a privately held firm operating in the unattended DVD rental kiosk business.
The ATM purchase includes terminals as well as the existing relationships with a large, global oil and gas company to manage ATMs at service station locations in three Midwestern states. The 260 DVD rental kiosks acquisition brings the Company’s total number of deployed DVD kiosks to approximately 600 and represents substantial opportunity to grow kiosk business, primarily at U.S. military facilities. The Company’s total DVD kiosk portfolio will be located at a combination of highly attractive grocery store chains and highly sought after locations on U.S. military bases.
Mr. George McQuain, Chief Executive Officer of Global Axcess, commented, “These two strategic acquisitions have expanded our self-service kiosk base substantially and have greatly expanded our market opportunities and provided a foothold into new markets and regions. We continue to build our critical mass in the DVD kiosk market, and that should ultimately benefit us as well. We have the opportunity to benefit from satisfied customers and long-term relationships with both of these acquisitions and look forward to continuing to provide our superior customer service and operational excellence.”
Additional details and terms regarding the transactions are included in the Form 8-K filed with the Securities and Exchange Commission.
About Global Axcess Corp
Headquartered in Jacksonville, Florida, Global Axcess Corp was founded in 2001 with a mission to emerge as the leading independent provider of self-service kiosk services in the United States. The Company provides turnkey ATM and other self-service kiosk management solutions that include cash and inventory management, project and account management services. Global Axcess Corp currently owns, manages or operates approximately 5,300 ATMs and other self-service kiosks in its national network spanning 43 states. For more information on the Company, please visit http://www.globalaxcess.biz. For more information on Nationwide Money Services, please visit http://www.nationwidemoney.com.