News

Coinstar acquires Mundo Communications Network

March 16, 2005

BELLEVUE, Wash. - Coinstar has announced its acquisition of Mundo Communications Network, which currently operates as El Toro Prepaid, according to a news release.

"We are excited about this acquisition as it further establishes Coinstar as a leader in the e-payments arena," said Steve Verleye, Coinstar's general manager of electronic payment solutions. "We identified Mundo Communications as an attractive acquisition due to its turnkey point-of-sale prepaid platform, dominant position in the western United States and excellent reputation for providing quality products and service to retailers."

The acquisition of Mundo Communications adds retail accounts and additional pay-as-you-go products to Coinstar's e-payment services business. Mundo serves approximately 2,300 retail accounts throughout the western United States including convenience stores (Petro and Tesoro), truck stops and independent retailers. Company products and services include prepaid MasterCard cards, prepaid wireless airtime, prepaid long distance, gift card and loyalty programs and prepaid phone accessories.

Mundo Communications' 19 employees, including the current management, will operate under the new name El Toro Prepaid. The company will continue to operate in Kennewick, Wash., as a wholly-owned subsidiary of Coinstar.