An Overland Park company ended 2017 by closing on its third acquisition of the year.
Prineta LLC, a private, nonbank ATM deployer and operator, added a portfolio of ATMs along the South Texas Coast. The expansion covers 17,000 square miles from Galveston to Corpus Christi to South Padre. The move expands the company’s footprint in Texas; its service area already covered San Antonio, Houston and Dallas.
Prineta was named in December as a 2018 25 Under 25 honoree.
According to a news release, Prineta will continue to seek growth through acquisition. Despite growth in electronic payments, the company still sees a desire by consumers to use cash.
“Cash is not dead – and neither is the ATM machine,” said Tanner Morton, managing partner at Prineta. “Surprisingly, we have seen average ATM transaction volume actually increase the last two quarters compared to the same quarters in years prior.”