Tidel Technologies, Inc. announced that it has entered into an exclusive marketing agreement with ATM Center, Inc., an Independent Sales Organization for ATM equipment, whereby ATM Center will market and distribute only the Tidel product line to its customers. The deal marks the twenty-seventh such exclusive or preferred distribution deal completed by Tidel in recent months, and begins the second phase of an existing relationship with ATM Center that began last year. Tidel shipped an initial order to ATM Center in 2000 to replace an entire installation of units previously purchased from a competing manufacturer.
According to Bruce G. Kreeger, President of ATM Center, “Our experience with the Tidel equipment as to performance, reliability and service has been excellent, paving the way for the exclusive relationship contemplated under the new agreement. We have put capital resources and debt facilities in place for an aggregate commitment of $5 million toward our current ATM sales and placement programs for the remainder of this year and into 2002.”
Michael Hudson, Executive Vice President of Tidel, added, “ATM Center is a very nice addition to our portfolio of quality ISO’s. Their commitment of $5 million for their ATM placement program sets them apart from many of their competitors. By stocking Tidel product on a volume basis, ATM Center expects sales will increase due to their ability to provide faster delivery to customers. We believe this relationship will help strengthen Tidel’s position in the domestic off-premise market, particularly in the Atlantic seaboard states.”
Mine Hill, New Jersey-based ATM Center, Inc. offers ATM equipment, service, supplies and replenishment to most states in the contiguous United States. ATM Center has regional offices in New England, California, Florida and Virginia, with more offices scheduled to open this year.
Tidel Technologies, Inc. is one of the nation’s leading manufacturers of automated teller machines and cash security equipment designed for specialty retail marketers. Tidel pioneered the dial-up ATM in 1992 and in 2000 ranked 55th in Forbes’ list of the 200 Best Small Companies in America. To date, Tidel has sold more than 30,000 retail ATMs and 115,000 retail cash controllers in the U.S. and 36 other countries. For more information about the company and its products may be found on the Internet at [http://www.tidel.com].