Tuesday, July 2, 2013

Outerwall Buys Electronics Recycling Kiosk Maker EcoATM For $350M

Bellevue-based Outerwall--the newly renamed Coinstar--has acquired a maker of electronics recycling kiosks, the company said today. Outerwall said it has acquired EcoATM, for $350M in cash. EcoATM makes automated kiosks which allow consumers to trade in mobile phones, tablets, and MP3 players for cash. Outerwall was already an investor in EcoATM, and had owned 23 percent of the company. The other investors in EcoATM include Claremont Creek Ventures and Tao Venture Capital Partners, who invested around $31.4M in EcoATM.