Cardtronics acquires Spark ATM Systems

Cape Town – Cardtronics announced that it has closed on the acquisition of Spark ATM Systems – a move that marks Cardtronics’ entry into the South African market.

Privately held and headquartered in Cape Town, Spark ATM Systems is a fast-growing independent ATM deployer in South Africa, with a growing nationwide network of approximately 2 600 ATMs.

Financial terms of the acquisition were not disclosed.    

Cardtronics CEO Steve Rathgaber said Spark ATM Systems is an innovative and highly respected ATM deployer, with relationships with leading banks in South Africa, making it a strong fit with Cardtronics.

"We are excited to broaden our global footprint into South Africa, with a management team that has built an impressive operating and technology platform.”  

Spark ATM Systems managing director Marc Sternberg said this is a major milestone for Spark and is a strong vote of confidence not only in the organisation, but also in the growth potential of SA’s ATM market.

"We are excited about the synergies between Spark’s robust operating platform and proven sales engine, and the added capabilities and credibility that come with the world’s premier ATM services provider, Cardtronics. We look forward to further developing and capitalizing on these combined strengths to serve our existing customers, unlock new business opportunities and further expand the reach of ATMs in SA,” said Sternberg.

Spark ATM Systems will continue to operate under its current name, and its founders, Sternberg and Russel Berman, and the existing management team will continue in their current roles. The Spark ATM Systems head office in Cape Town will be retained as Cardtronics’ African base of operations.