Outerwall (Formerly Coinstar) Buys ecoATM For $350M In Cash To Expand Into Device Recycling Kiosks

A few big changes underway in the automated retail space: Coinstar, the operator of coin-counting kiosks that has now rebranded as Outerwall, is acquiring ecoATM for $350 million in cash. EcoATM operates its own kiosk network focused on taking used mobile phones, tablets and MP3 players for cash and has positioned itself, coincidentally, as the "Coinstar for used devices." Outerwall was already an investor in ecoATM, which had raised $31.4 million in VC financing, plus another $40 million in debt. Because of the 23% stake that it already owns, that will be deducted from that $350 million pricetag.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/e7MC0vx0qqc/

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