June 13, 2018

Jacksonville, FL & Lancaster, PA  – Sharenet LLC announced today that it has extended its long-term ATM services agreement with Walgreens in Puerto Rico, the island’s largest drugstore chain and one of the nation’s largest and leading retail chains.

Sharenet currently owns and operates approximately 70 ATMs across Puerto Rico in Walgreens drugstores. Since establishing the relationship with Walgreens in 2009, Sharenet not only owned and operated the ATMs within the stores, it has also partnered with some of the island’s leading Credit Unions and Financial Institutions to provide convenient, surcharge-free access to their members and cardholders across the Walgreen stores throughout the island.

After the recent sale of Sharenet to Paramount Management Group, a leading ATM deployer throughout the US and Puerto Rico, Sharenet is now one of the largest deployers of ATMs throughout Puerto Rico.  

Providing superior ATM services to their customers is a top priority for Walgreens. Not only does the chain provide safe, secure and convenient locations, but also provide surcharge-free access to the many financial institutions throughout Puerto Rico whose customers benefit from Walgreens many stores throughout the island.

“Sharenet is proud of the partnership that was established with Walgreens to serve their customers in Puerto Rico nearly a decade ago. The renewal of our agreement is a testament to our commitment to expand our business, help Puerto Rico recover and to continue to provide our financial institution customers with relationships with some of the leading retailers of the island by providing surcharge-free access to their customers and members” said Ray Davis, Sharenet’s founder and Director of Business Development”

“Puerto Rico is a key market of growth for our company,” furthered Jorge Fernandez, CDO/CMO for Paramount Management Group. “Our company has made significant strides in growing our presence in the island by filling service gaps and providing new and innovative self-service and ATM outsourcing services to financial institutions and retailers throughout the island, this announcement reinforces our decision to invest in acquiring Sharenet and the key relationships that the company has brought to our group,” added Fernandez.

About Sharenet/Paramount Management Group.  Sharenet is a wholly owned division of Paramount Management Group, LLC. Sharenet was established in NY State in 1994 to serve the ATM needs of Credit Unions within the State and is today a leading provider of ATM outsourcing services to Financial Institutions throughout the United States and Puerto Rico. Sharenet was acquired by Paramount in Q1 2018.  Based out of Lancaster, PA, Paramount Management Group owns an operates a network of over 4,000 company-owned ATMs, multi-function financial kiosks as well as many other customer engagement financial and retail solution throughout the US and Puerto Rico. (www.sharenetatm.com, www.paramountmgp.com)

Contact Information:

Jorge Fernandez
Chief Development and Marketing Officer

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