i-design Agrees Cash Offer By Cardtronics

Maddie Cotterill

i-design Group, owner of atmAd agreed yesterday to a cash offer by Cardtronics UK, an indirectly wholly-owned unit of Cardtronics.

i-design chairman James Faulds said “The board of i-design is pleased to recommend unanimously this offer from Cardtronics. The offer will allow i-design shareholders to realise a significant cash premium for their shares and provide i-design with the opportunity to accelerate its growth and widen its reach in a way not currently available”.

Cardtronics is the world’s largest non-bank ATM operator and a leading provider of fully integrated ATM and financial kiosk products and services.

The 60p per share offer represents a premium of around 160% to the closing price of 23.0p on 12th February.

It values i-design at around GBP 8.5m.

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