Financial tech company, Stargroup Limited
(ASX:STL) has completed acquiring an ATM network from Queensland-based 'CashmyATM'.
For this purchase, comprising 95 ATMs, Stargroup will pay $4 million in cash, and around $450,000 in Stargroup shares (at 5 cents per share).
The company says its ATM fleet grew by 350% over the last year, and that it will now have over 350 ATMs.
The company also says its annualised revenue is over $7.5 million, and expects this to increase to over $11 million in the 2017 FY.
Stargroup reported a net loss of $1.1 million at 31 December 2015.
