Archive for April 2010

ATM maker Triton sold for $7.5 million

Thursday, April 29th, 2010

A year after a failed merger with Nautilus Hyosung, ATM manufacturer Triton Systems — maker of the popular Triton RL1600 — has been sold.

Triton Systems of Delaware was recently purchased from the Dover Corp. by a group of private investors for $7.5 million.

Triton Systems president and CEO Daryl Cornell says the new owners have expressed confidence in their ability to continue to grow the company.

“The only real change is the end of the uncertainty surrounding Triton during the protracted sale process,” Cornell said. “We believe that this sale was the best possible outcome for Triton, its customers, its employees and the community.”

The company will maintain a strategic partnership with the publicly held Dover, but does not plan a public stock offering of its own.

Cornell says Triton’s continued partnership with Dover had its advantages. But being a privately held will allow Triton to explore otherwise unavailable opportunities and partnerships.

The company will not seek a public offering, either, Cornell says. Such a move would allow Triton access to equity markets, but would be too cost prohibitive in the end.

In the short term, no major changes are expected, and no executive departures were announced.

Tags: ATM, ATM machine, ATM machines, ATMs, Cash machine
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ATM Network adds online ATM feature comparison chart

Wednesday, April 28th, 2010

ATMs are powerful, flexible pieces of equipment. They accurately and reliably encrypt data, process transaction, dispense cash, communicate with customers and prevent theft.

But that also means they can be complicated. ATMs come in a bewildering array of shapes, sizes and features. Figuring out which machine is best for your situation can be difficult.

Probably the best and easiest approach is to call an independent distributor like ATM Network and speak to an account representative. Independent distributors sell ATMs from lots of different manufacturers. They know the products and don’t have a stake in a particular brand or model, so they can discuss the pros and cons of each machine and how it fits your specific situation.

But for people who like to research things themselves, or just want to get an idea of what kind of questions to ask, ATM Network has created an interactive ATM feature comparison chart on our website.

Choose up to three machines, and the page will list their features side-by-side in an easy-to-read and easy-to-understand chart.

Want to have the list handy when you talk with an account rep? Just print it out for easy reference.

ATM Network has always considered an informed customer our best customer: we’re confident that the more you know, the more you’ll appreciate ATM Network’s combination of value, experience and service. The new comparison chart is just one more way we put our money where our mouth is.

Tags: ATM, ATM for sale, ATM machine, ATM machine for sale, ATM machines, ATM machines for sale, ATMs, ATMs for sale, Buy ATM, Buy ATM machine, Buy ATM machines, Buy ATMs
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Tranax not changing name after all

Tuesday, April 6th, 2010

Back in February, Tranax announced it was changing it’s name to Hantle USA, to better align its brand and its products with Hantle Systems Co. Ltd., Tranax’s Korea-based parent company.

But on Wednesday, Tranax said there would be no name change after all.

The name change, according to attorneys for Tranax, was never official. In fact, lead attorney Bob Freitas tells ATMmarketplace.com that Tranax is not owned by Hantle Systems at all, and that there is no relationship between Hantle Systems and the company that acquired Tranax in the fall of 2008, Korea-based Eltna Group.

In an e-mailed statement, Freitas says: “Hantle USA is a separate company that is not a subsidiary of Hantle Systems. Hantle Systems sells ATM modules to Hantle USA . Hantle USA currently intends to focus on marketing and sales of ATM equipment, modules and related products for the retail industry. Hantle Systems is an established Korean company with 18 years of history in research and development of ATM modules for the banking and other industries.”

Some significant changes have taken place. On Feb. 1, Hantle USA took over responsibility for selling the company’s retail ATMs, while Tranax is now focused on kiosks, scanners and components. Hantle USA will also handle servicing for existing Tranax ATMs. Eventually all of the company’s ATMs will be rebranded to Hantle, but the transition will probably take a long time.

The head of Tranax’s parent company apologized for the confusion.

“Tranax regrets recent incorrect statements about the company which resulted from miscommunications between an employee and the upper management of the company,” said Won Gee Lee, CEO of Tranax and Eltna, Tranax’ owner, in an issued statement. “We apologize to our customers, the media, and the public who received this incorrect information. In fact, Tranax continues as a business, focusing on ATM machines and other related products, including scanners, self-service terminals and other modules for non-retail industries, including the banking industry.

Tags: ATM, ATM machine, ATM machines, ATMs
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