Founded in 2005, Spark is an independent ATM deployer (IAD) headquartered in Cape Town, South Africa. With a rapidly growing network of more than 2,600 ATMs in South Africa, Spark’s innovative operating and technology platform is ideally suited to operate profitably in emerging markets that traditional IADs would find economically infeasible.
Cardtronics, headquartered in Houston, Texas, is the largest non-bank deployer of ATMs in the world with approximately 225,000 ATMs in North America, Europe and Asia-Pacific.
This transaction represents a seminal moment for Spark, Cardtronics and the South African ATM market.
With Spark’s leading operating and technology platforms and service excellence, and Cardtronics’ global capabilities and experience; South African banks truly have a world class partner in which to trust their ATM networks and better serve their customers.
Cardtronics gains access to a growth market in South Africa, a strong platform from which to expand further into Africa, and a highly efficient technology platform and operating model to replicate in other markets internationally.
Marc Sternberg, Founder of Spark ATM Systems commented on the experience:
“Dana and the Novitas team did an exceptional job in guiding us through the transaction start to finish. They demonstrated a strong understanding of our business and value drivers and were particularly talented at aligning our interests with Cardtronics and structuring the transaction to achieve the desired outcome.”