Tuesday, September 27, 2016

Outerwall Acquisition Completes

Bellevue-based Outerwall said Tuesday afternooon that its deal to be acquired by private equity investor Apollo Global Management has completed. The deal was worth approximately $1.6 billion, or $52.00 per share in cash. As part of the acquisition, Apollo and Outerwall said they would be splitting the company into three distinct businesses. Redbox will be led by Galen C. Smith, Coinstar will be led by James H. Gaherity, and David D. Maquera will lead ecoATM. Erik Prusch, who had been CEO of Outerwall, will lave the company as a result of the acquisition.