U.S. markets open in 3 hours 25 minutes
  • S&P Futures

    4,133.00
    +26.00 (+0.63%)
     
  • Dow Futures

    34,084.00
    +146.00 (+0.43%)
     
  • Nasdaq Futures

    13,242.50
    +142.25 (+1.09%)
     
  • Russell 2000 Futures

    2,185.40
    +16.80 (+0.77%)
     
  • Crude Oil

    64.46
    +0.64 (+1.00%)
     
  • Gold

    1,833.60
    +9.60 (+0.53%)
     
  • Silver

    27.25
    +0.20 (+0.72%)
     
  • EUR/USD

    1.2115
    +0.0031 (+0.25%)
     
  • 10-Yr Bond

    1.6680
    0.0000 (0.00%)
     
  • Vix

    21.56
    -6.03 (-21.86%)
     
  • GBP/USD

    1.4058
    +0.0006 (+0.04%)
     
  • USD/JPY

    109.3690
    -0.0650 (-0.06%)
     
  • BTC-USD

    50,380.07
    +749.87 (+1.51%)
     
  • CMC Crypto 200

    1,396.76
    +8.86 (+0.64%)
     
  • FTSE 100

    7,010.52
    +47.19 (+0.68%)
     
  • Nikkei 225

    28,084.47
    +636.46 (+2.32%)
     

Brink’s Company Snaps Up PAI For $213M; Shares Gain

  • Oops!
    Something went wrong.
    Please try again later.
support@smarteranalyst.com (Ben Mahaney)
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

The Brink’s Company announced the acquisition of PAI Inc, an ATM services provider, for $213 million. Shares of the cash management and route-based secure logistics and payment solutions provider closed 1.4% higher on Tuesday. Notably, the transaction closed on April 1.

As a result of the deal, The Brink’s Company (BCO) will gain access to an SaaS-based technology platform used to enhance ATM network performance.

PAI is likely to deliver revenue and adjusted EBITDA of about $320 million and $30 million, respectively, on a current full-year basis. Meanwhile, it is expected to add approximately $240 million of revenue and $22 million of adjusted EBITDA to BCO’s earnings in 2021.

The Brink’s Company President and CEO, Doug Pertz, said, “PAI brings a strong management team led by David Dove, robust technology, and a scalable, asset-light business model that complements our existing capabilities.”

Likewise, The Brink’s Company intends to enhance the delivery of digital solutions that make full-service ATM management and outsourcing much easier. Additionally, the company is well-positioned to offer a complete range of ATM services, including full services outsourcing. (See The Brink’s Company stock analysis on TipRanks)

Earlier, Goldman Sachs analyst George Tong reinitiated coverage on The Brink’s Company with a Buy rating and a price target of $92 (13% upside potential). Tong expects the company to benefit from strategic initiatives that should help accelerate organic revenue growth.

The Moderate Buy analyst consensus is based on 2 Buys. With shares up a stellar 88.3% over the past year, the average analyst price target is $94 and implies 15.5% upside potential to current levels.

Furthermore, from TipRanks’ Smart Score ranking, BCO scores an 8 out of 10, suggesting the stock is well-positioned to outperform market expectations.

Related News

Trulieve Snaps Up Keystone Shops For $60M; Street Remains Bullish
Palantir Technologies Wins $89.9M Contract; Shares Gain
Signet Acquires Rocksbox, Expands Services Offerings

More recent articles from Smarter Analyst: