Global Cash Access Inc., a provider of cash access services for the gaming industry, said Monday it will acquire Cash Systems Inc. for about $33 million.
The value of the deal includes $21 million Global Cash Access will pay to holders of Cash Systems' outstanding promissory notes and warrants.
Cash Systems shareholders will receive 50 cents per share in cash, a 4 percent premium over Friday's closing price of 48 cents.
Global Cash Access will add about 120 new customers through the acquisition of Cash Systems, which provides cash access services for the retail and gaming industries.
The acquisition will increase Global Cash Access' operating income in 2009.
The deal is expected to close in July.
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