OuterwallInc.'s business segments will now be managed and operated as threedistinct businesses, following the completion of its acquisition by funds managed by affiliates ofApollo Global ManagementLLC.
Erik Prusch stepped down as CEO of Outerwall inconnection with the closing of the transaction. Galen Smith, who previouslyserved as Outerwall's CFO, will now lead Redbox Automated Retail LLC as its chief executiveofficer.
Presidents James Gaherity and David Maquera were promoted toCEOs of the Coinstar and ecoATM businesses, respectively.
Affiliates of funds managed by Apollo Global on Sept. 27completed the acquisition of Outerwall through a cash tender offer. As a resultof the transaction, which was valued at about $1.6 billion, including net debt,Outerwall's common stock ceased trading on the Nasdaq Global Select Market andwill be delisted.