Customers managing director, Tim Wildash said the agreement was a significant endorsement of the company and its service offering. 'Securing an agreement of this scale with one of our country's largest and most successful retailers shows just how competitive we are and will continue to be in this space.'
Wildash said the contract demonstrated the company's capabilities in managed services for both the financial institutions and the corporate sectors.
'Globally recognised state-of-the-art equipment from our partner, Nautilus Hyosung, combined with our scale, unmatched nationwide resources and experience allows us to offer major retailers and financial institutions in Australia a fully customised and advanced solution.
'We're looking forward to working with Coles and providing their customers with the latest in convenience ATMs, ensuring fast, safe and reliable access to cash when they need it.'
Under the agreement, Customers will provide ATM hardware and software, ongoing maintenance, cash servicing, branding and 24-hour technical support to Coles Express.
Customers will be installing Nautilus Hyosung's bank-style ATMs combined with Kalignite software at the Coles Express sites. The Kalignite software will enable advanced functionality and personalised service to be delivered directly to Coles Express customers.
Wildash said Customers will upgrade existing Coles Express ATM facilities, and will be installing ATMs at Coles Express sites that do not currently have ATM facilities.
'All ATMs as part of the deal will be branded in Coles Express livery and the installation program will run into mid-2012.'
The ASX announcement said the capital expenditure required by Customers to perform the contract will be entirely funded from existing credit lines and, as this is incremental revenue, the company expects it to be EPS enhancing from year one.