Payment Alliance International (PAI), a leader in ATM portfolio management products and services, announced today that it has acquired Massachusetts-based ATM operator ISA-Ecash.
he acquisition adds 40 plus financial institution customers with 960 ATMs located throughout the Northeast to PAI’s existing nationwide network of more than 75,000 ATMs. The acquisition also encompasses ISA-Ecash’s industry-leading ATM Manager Pro software offering, which makes it easier for ATM deployers to maintain total command of ATM and cash operations. ATM Manager pro currently supports more than 270,000 ATMs across America.
“We are very excited about the capabilities ISA-Ecash has built over the years and the value they will add to our portfolio management products and services business,” said David Dove, chief executive officer for PAI. “Jack O’Toole and Jim McGuire have built strong and enduring relationships with their customers, and we look forward to having them and the rest of ISA-Ecash’s employees join the PAI team,” added Dove.
“The combination of PAI and ISA-Ecash will provide tremendous value to our combined customer base, said O’Toole, chief executive officer for ISA-Ecash. Technology in the form of PAI Reports, services in the form of Vantage and value-added products and services like dynamic currency conversion will help fuel growth,” added O’Toole.
ISA-Ecash employees are being retained in the company’s Norwood, Massachusetts offices. Terms of the agreement were not disclosed.
Boston-based Tremont Capital Group, a firm specializing in strategic planning and merger and acquisition advisory services to the ATM industry, advised the seller.