Paramount Acquires Puerto Rico-Based ATM Group, Corp
With the addition of ATM Group and last year's acquisition of Sharenet, Paramount now operates the largest network of independent ATMs throughout Puerto Rico.
Founded over 15 years ago by Nestor Vazquez and Fernando Alvarado, ATMG was one of the first independent ATM deployers in Puerto Rico and has developed a solid reputation for superior service. Vazquez and Alvarado have agreed to stay on board to help manage the integration of the company, provide maintenance and continue to grow ATMG with the new solutions available from Paramount such as digital media, gift cards, pre-paid cellular, money transfer, bill pay, cryptocurrency and ATM outsourcing for financial institutions.
"We are very pleased to welcome ATMG to the Paramount family of companies," Jorge Fernandez, Paramount Chief Development and Marketing Officer, said. "ATMG is a pioneer in the Puerto Rician ATM industry. Nestor and Fernando have been able to grow the company into one of the leading ATM operators on the island. ATMG brings to Paramount significant growth into a market where we already have a large presence, and we look forward to being able to further grow both companies by injecting capital into the operation and providing additional products and services."
With the addition of ATMG and last year's acquisition of Sharenet, which includes retail and financial institution accounts, Paramount now operates the largest network of independent ATMs throughout Puerto Rico. "The ATMG acquisition allows Paramount to offer additional locations to our existing financial institution customers throughout the island," Fernandez added.
"We were looking to partner with an organization that has achieved success, has a clear vision and strategy for continued growth, and the financial resources to foster that growth," indicated Vazquez. "Paramount was the ideal choice. We are very impressed with the solutions the company is introducing. Fernando and I are excited to be part of the new chapter that Paramount is helping create ‒ one that focuses more on customer engagement than on the ATM itself."
Vazquez continues, "ATMG built an excellent reputation for providing superior ATM services. The partnership gives us access to capital and resources needed to further expand the products our customers need; innovative products that will allow them to differentiate themselves."
"I've had the honor of knowing Nestor and Fernando for many years and grew to respect them as competitors,"
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 cards and crypto-currency solutions, among other services, at the ATM. www.paramountmgp.com
Paramount Chief Development & Marketing Officer