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Slide #16. Outerwall Inc — ecoATM
Outerwall Inc (OUTR)
Outerwall Inc. (Nasdaq: OUTR), formerly Coinstar, Inc., a leader in automated retail, today announced that the company has entered into a definitive agreement to acquire ecoATM for $350 million in cash, which includes payoff of certain indebtedness and certain transaction costs, subject to adjustment for working capital as of closing. In addition, because Outerwall currently holds a 23% ownership stake in ecoATM, consideration for this stake will be deducted from actual cash paid. Upon closing the transaction, Outerwall will own 100% of ecoATM.
Outerwall is a provider of automated retail solutions. Co.'s primary offerings in automated retail include its Redbox business, where consumers can rent or purchase movies and video games from self-service kiosks; its Coinstar business, where consumers can convert their coins to cash and convert coins and cash to stored value products at self-service kiosks; and its ecoATM business, where consumers can sell certain electronic devices for cash at self-service kiosks and through an online solution. At Dec 31 2015, within its Redbox segment, Co. operated 40,480 Redbox kiosks, in 33,060 locations; and within its Coinstar segment, Co. owned and operated 20,930 kiosks in 19,660 locations.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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