Tuesday, March 15, 2016

EcoATM's Parent, Outerwall, Seeks Buyer

Outerwall, the parent company of San Diego-based cellphone recycling kiosk operator EcoATM, said late Monday that it has hired an investment banker, and is now looking at "strategic alternatives". Outerwall, which also owns Redbox and Coinstar, said that it has hired Morgan Stanley and Perkins Coie to help it to "explore strategic and financial alternatives" -- including a sale of the company -- as a crisis at the company has deepened. Outerwall was already under fire by investor groups, which had been demanding the sale or shutdown of EcoATM.

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