Acquisitions bring MoneyGram closer to its consumers and add
(NASDAQ: MGI), a leading global money transfer and payment services
company, today announced it has acquired Advanced ChronoCash Services
("ACCS") and has signed an agreement to acquire MoneyGlobe Payment
Institution S.A., which are both based in Athens, Greece.
MoneyGram acquired super agent ACCS through a share purchase agreement.
ACCS has been a MoneyGram agent since 2003, and has now grown to more
than 400 locations with a loyal base of retail agents. The acquisition
establishes a direct retail network for MoneyGram in Greece, enabling a
closer relationship with its consumers.
Additionally, MoneyGram has signed an agreement to acquire the shares of
MoneyGlobe Payment Institution S.A., a provider of cash-to-account money
transfers from Greece to Bangladesh. The transaction is subject to
closing conditions and regulatory approvals.
"ACCS has been a great partner to MoneyGram, building a strong network
of quality retail agents," said Carl Scheible, executive vice president
of Europe and Africa at MoneyGram. "By acquiring the company, we will
now be able to continue to expand the network directly in partnership
with our agents who serve our consumers every day."
In addition, Scheible said, the acquisition of MoneyGlobe will enable
MoneyGram to offer a technology-driven solution that meets the unique
needs of consumers in Greece. "As the Greek economy begins to improve,
MoneyGram can now move more nimbly to capture new opportunities in this
important market," he said.
These latest acquisitions are important to MoneyGram's offerings to
customers in Greece and draw upon the company's strategy to invest in
products and services that enhance operations and provide increased
convenience for customers.
MoneyGram, a leading money transfer company, enables consumers who are
not fully served by traditional financial institutions to meet their
financial needs. MoneyGram offers money transfer services worldwide
through a global network of 327,000 agent locations — including
retailers, international post offices and financial institutions — in
nearly 200 countries and territories. MoneyGram also offers bill payment
services in the United States and Canada. To learn more about money
transfer or bill payment at an agent location or online, please visit
moneygram.com or connect with us on Facebook.
Mike Gutierrez, +1-214-303-9923
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