E*Trade to Acquire ATM Network

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E*Trade Group Inc., Menlo Park, CA, said yesterday that it agreed to acquire Card Capture Services Inc., a Portland, OR, company that owns a network of 8,500 automatic teller machines. The terms of the agreement were not disclosed.


E*Trade said the acquisition will allow it to leverage CCSI's national network of ATMs and create financial services kiosks that could serve as a means for the company to cross-market financial products. The acquisition also would lend a physical presence to Telebank, E*Trade's Internet bank. The ATMs are located in various retail environments, including drugstores, supermarkets and convenience stores.

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