Coinstar to Change Name to Outerwall25 Apr, 2013 By: Chris Tribbey
Redbox parent Coinstar plans to change its name to Outerwall, to better reflect its change from a coin-counting business to multiple automated retail businesses.
The name change would need to be approved by stockholders at Coinstar’s annual stockholder meeting June 27.
“Our proposed name change to Outerwall unifies our growing portfolio of products and services under one name and reflects the company's ongoing commitment to think beyond the limits to make a better everyday possible for everyone,” said Coinstar CEO J. Scott Di Valerio. “More than two decades ago, Coinstar pioneered self-service coin counting and 10 years later, Redbox reimagined a new way to deliver low-cost entertainment through DVD kiosks. We continue to develop solutions that are simple, convenient and affordable.”
The name change is intended “to signify innovation and pushing the walls of retail out into a new dimension through current and future automated retail solutions,” the company said in a statement.
If approved, the new NASDAQ ticker symbol for the company would become “OUTR”.