Tuesday, August 24, 2010

Coinstar Sells Business Unit

Seattle-based Coinstar said Tuesday that it is selling off its money transfer business to Sigue Corporation, in a deal worth $41.5M. The firm had earlier said it would sell the unit. According to Coinstar, the transaction is expected to close next year, subject to certain closing conditions and required regulatory approvals. Sigue is a provider of electronic money transfer services to Mexico, Central America, South America, the Caribbean and the Philippines.