Armaguard Group finalises rediATM Scheme acquisition
Wednesday 14 August 2019
The Armaguard Group announced today the purchase completion of Cuscal’s physical ATM assets and has now taken over the management and operation of the rediATM Scheme together with all customer-owned servicing contracts.
This purchase allows Armaguard to facilitate the continued provision of cash across the community.
Gary Allen, CEO, Armaguard Group, is pleased to confirm the sale: “Our investment in this well-established network is part of our strategy to support ongoing essential services of cash distribution to the community.”
“This acquisition is a natural extension of our current cash supply chain business. Our core business is currency management, which includes supporting financial institutions with the circulation of cash into the community. We aim to ensure that everyone has access to their cash where and when they need it, and part of this is through the provision of ATMs in communities across Australia.”
Commenting on the completion of the sale, Craig Kennedy, MD, Cuscal stated: “The sale provides continuity and sustainability of ATM Services for our clients and their customers, while allowing us to focus on our core strategic areas of mobile, real-time and data. We are proud of what we have achieved in the last 10 years with the rediATM Scheme and look forward to supporting Armaguard’s future plans with our driving, switching and settlement services.”
Gary Allen sums up: “We are working closely with Cuscal and will continue to enjoy a long and positive relationship together. We now have everything in place to ensure a seamless business transition for rediATM Scheme members and their customers.”