Apollo Global Management and Hudson Executive Capital have agreed to acquire Cardtronics, a Houston-based operator of ATM machines, for $35 per share in cash in a deal that values the company at $2.3b, including debt. The purchase price marks a 35% premium to Cardtronics' closing price Dec. 8, the final day before a joint offer was announced. The deal comes after Apollo and Hudson offered to buy the company for $31 per share.
“Cardtronics is uniquely positioned within the increasingly complex, global payments ecosystem,” said Apollo Partner Robert Kalsow-Ramos. “Looking ahead, we see tremendous opportunity to accelerate growth through investment in the Company’s network, capabilities and people. We are excited to work closely with Ed and the broader team on this next phase of growth and are committed to delivering best-in-class service and innovative new products for Cardtronics’ valued partners.”
