NRT Technologies acquires ATM and cash advance assets of Sightline Payments

NRT Technologies announced it has completed the acquisition of ATM and cash advance assets from Sightline Payments, with effect from August 6, 2015.

2015-09-29

Canada

Reading time 1:31 min

NRT Technologies announced it has completed the acquisition of ATM and cash advance assets from Sightline Payments, with effect from August 6, 2015.

Under the terms of the purchase agreement, NRT acquired the majority of Sightline’s ATM and Cash Advance processing assets, including all ATM and Cash Advance processing agreements between Sightline and its more than 25 US casino customers.

Sightline will continue to provide ATM and Cash Advance services to these casinos under a transition services arrangement with NRT for a period of time sufficient to allow for the migration of these services to NRT’s infrastructure, which is expected to be completed before December 31, 2015.

This acquisition is immediately accretive for NRT, allowing for the strategic growth of its US casino customer base while providing an opportunity for new customers to adopt NRT’s award-winning suite of QuickJack ticket redemption kiosks and Smart Acquirer ATM and Cash Advance processing services.

“I’m very excited to welcome Sightline’s casino customers into the NRT family. I have a very close relationship with the Sightline management team. They wanted to make sure their customers would be well taken care of, and that the company they sold to was positioned to meet the upcoming EMV compliance requirements. All of this made NRT the logical choice. The level of trust between our organizations was integral to getting this deal done and will allow for a smooth and orderly transition of services, to the benefit of these casinos and their patrons. Offering faster, more secure and innovative means to access cash on and off the gaming floor is one of the many benefits NRT will bring to these casinos and their patrons. I’m certain they will achieve immediate gains from working with NRT,” said John Dominelli, President and CEO of NRT.

“When we decided to exit the ATM and Cash Advance processing business in order to focus on our Play+ cashless funding solution, the first thing we considered was our customers and their needs. Our long-standing relationship with and respect for NRT and the services they provide made this an easy decision. We are confident in NRT’s ability to provide unmatched products and services and know that our customers will be benefit from working with NRT now and in the future,” said Harry Hagerty, President and CFO of Sightline.