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Cardtronics expands into Africa through Spark ATM acquisition

Cardtronics plc has acquired South Africa-based Spark ATM Systems Proprietary Ltd., its first move into Africa.

Terms of the deal were not disclosed.

Spark ATM Systems has a network across South Africa of about 2,600 ATMs. The deal adds South Africa as an anchor market for Cardtronics in Africa, and the company will keep Spark ATM Systems' headquarters in Cape Town as its African base of operations. Spark ATM Systems will continue under its current name with founders Marc Sternberg and Russel Berman and the existing management team in their current roles.

Novitas Capital Advisors advised Spark ATM Systems.