April 2, 2012 / 4:44 AM / 6 years ago

UPDATE 1-DirectCash Payments to buy Australia's Customers Ltd

* Deal totals about $178 million

* DirectCash to pay A$1.27 per share in cash

April 2 (Reuters) - ATM services provider DirectCash Payments Inc said it has agreed to buy Australian peer Customers Ltd for about A$173 million ($178.63 million) in cash to expand its business globally.

DirectCash has agreed to pay Customers A$1.27 per share in cash, it said in a statement.

At signing, Customers will have A$37 million in outstanding debt.

DirectCash expects the deal to add to its funds from operations per share in the first fiscal year. It will fund the transaction with a combination of debt and equity financing, it said.

Following the acquisition, expected to close in the third quarter of 2012, DirectCash will have ATM operations in Canada, Australia, New Zealand, Mexico, the United Kingdom and the United States.

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