Grant Victor buys ATD and ATM Worldwide, deepening its bank ATM business
What's the deal? Grant VictorDealroom has a profile for this one. Try Dealroom → has acquired Automated Transaction Delivery (ATD)Dealroom has a profile for this one. Try Dealroom →, a New Orleans-based provider of ATM managed services and transaction processing for banks and credit unions, along with its affiliated retail business, ATM WorldwideDealroom has a profile for this one. Try Dealroom →. Terms were not disclosed.
What it means. The deal expands Grant Victor's financial institution client base and adds ATD's partnership with VeleraDealroom has a profile for this one. Try Dealroom →, a payments credit union service organisation serving more than 4,000 financial institutions across North America. That partnership will continue under Grant Victor.
Who's who? Grant Victor, founded in 2000, manages and maintains ATM networks for financial institutions and retail businesses through companies including NextBranchDealroom has a profile for this one. Try Dealroom →, TetraLinkDealroom has a profile for this one. Try Dealroom →, eGlobalDealroom has a profile for this one. Try Dealroom →, and NextATMDealroom has a profile for this one. Try Dealroom →. ATD runs a managed services model that lowers operating costs and expands self-service capabilities for the banks and credit unions it serves.
What changes for clients? ATD and ATM Worldwide customers gain nationwide field service, compliance, and security in a single monthly subscription, backed by 26 years of portfolio monitoring and management.
ATDDealroom has a profile for this one. Try Dealroom → chief executive officer Trey Prats will stay on, serving on the board and as senior vice president of business development. "Our clients have always counted on us to be there for them, and joining forces means they get that same commitment backed by an industry leader," he said.
What they're saying. "The ATD team has earned real trust with the financial institutions they serve, and that kind of reputation takes years to build," said Jeff Matthews, chief executive officer of Grant Victor. "Their team and their customer base expand our market presence in a meaningful way."
The signal. The acquisition points to continued consolidation among ATM managed-service providers, as financial institutions lean on outsourced partners to cut operating costs and extend self-service banking.
Image credit: lumenwilde
Read more: Associated Press
