Self-Service

Paramount Management Group acquires ATM provider Cypress Advantage

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February 12, 2024

Paramount Management Group, an ATM solutions provider, has acquired Cypress Advantage, an independent ATM service provider in Washington. With this acquisition, Paramount adds 7,500 ATMs to its network in the U.S., according to a press release.

Founded in 1996 by Samantha and Michael Guthrie, Cypress offers equipment, parts, processing and technical support for independent ATM deployers.

"We are excited to join forces with Cypress and their distributors," Maya Fuentes, SVP of M&A business development, Paramount, said in the release. "I have the utmost respect for the Guthries and the business they have built. During the past 28 years they have developed strong alliances and industry-leading tools and strategies to help their ATM deployers grow their businesses. This acquisition will benefit Cypress' IADs by providing the personalized service they are accustomed to, and access to additional products and services provided by Paramount."