LANCASTER, PA — Paramount Management Group is pleased to announce it has acquired certain assets of CNY ATM, Inc. Founded by Tim Champa over 14 years ago, CNY established itself as one of the leading ATM deployers in the New York State market.
“We are very pleased to have been able to come to terms with Tim on this transaction,” indicated Jorge Fernandez, Paramount’s Chief Development and Marketing Officer. “CNY identified a key niche within their market and successfully grew their business over the years by providing their customers with superior services. This acquisition allows us to further grow our already large presence in the New York market and provides additional distribution channels for our value-added services through the ATM such as digital media offering as well as other self-service solutions.”
“Regulations and external market forces are causing ATM operators to rethink their strategies; it is difficult for many operators to stay competitive while also having to content with the myriad of regulations and competitive forces,” Champa, Founder and President of CNY-ATM stated.
“We needed a partner that could help us grow the business, ease the burden of compliance and operations while simultaneously providing the capital we need to grow and develop new solutions,” Champa continues. “Paramount is the perfect partner to allow us to accomplish all those goals.”
“In addition to providing a platform to further grow our retail presence in this important market, it also allows us to offer our financial institution’s with additional locations where customers can have access to cash,” concluded Fernandez.
ABOUT PARAMOUNT MANAGEMENT GROUP, LLC — A national leader in implementing solutions incorporating technology allowing consumers, retailers and financial institutions to interact with each other, Paramount’s services include the placement and operation of ATMs, digital media solutions and meeting consumer needs by providing bill pay, money remittance, gift card dispensing and crypto-currency solutions among other services at the ATM. The company’s Sharenet division specializes in providing ATM outsourcing solutions to financial institutions. Visit www.paramountmgp.com to learn more.
ABOUT CNY ATM— CNY ATM is a full-service ATM company specializing in offering the best ATM products and services at the best price available. Our success has been the result of 100 percent services levels and our commitment to helping our partners get the best programs, advice and pricing to suit each customer individual needs. Visit www.cnyatm.com for further information.
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