In its second-largest acquisition, Amazon buys the company for $970 million.
TRM Corp. has formed a subsidiary, iATMglobal.net, to deliver a distribution channel to access the Internet using its existing ATMs initially and eventually rolling out the software capability worldwide to other ATMs. The new subsidiary, says San Francisco-based TRM, will continue TRM's work to develop a Remote Access Application Protocol, which the company hopes will provide the infrastructure for online retailers to use the ATM as an additional way to sell goods and services. The new software will transform existing ATMs into Internet ATMs, or iATMs, allowing limited and controlled access and functions for the end user, the company says. With strategic e-commerce partners, iATMs will be able to deliver a wide range of services, including event and travel ticketing, Internet banking services, affinity program vouchers, and a multitude of other goods and services. Anything the Internet delivers to consumers can be available using the iATM network, TRM says.