By Vanessa Cavasinni, editor Australian Hotelier

The Banktech Group have acquired the Authentic ATM business, adding to their own considerable ATM portfolio in the hospitality industry.

The Authentic ATM network is made up of over 300 ATMs located mainly in hotels and clubs in New South Wales. This number will now augment Banktech’s own CashConnect ATM network, for a total of over 2500 ATMs in Australia.

Authentic Group had been operating their ATM business for three years before being purchased by Banktech.

"Authentic Group has made a strategic decision to focus on expanding its cash services business but wanted to ensure our ATM customers continued to receive the best quality ATM service. Ultimately we aspired to compete with Banktech’s commitment to service excellence so our decision to partner with a market leader was an easy one. We know Banktech will deliver and we will continue to work closely with them to provide our cash services to the Authentic ATM venues and the broader market." said Steve Newton, Managing Director, Authentic Group.

"We are excited about the transaction. This acquisition allows Banktech to build on the strong relationships that Authentic ATM has developed to further market our growing range of non ATM products and services to the hospitality industry." said David Glen, group managing director of Banktech.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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