Around 2.30am on Thursday, 5 June, police receIved a report of a loud bang in the on Annareagh Road, Hamiltonsbawn area and suspicious activity close to the ATM.
Officers attended and discovered a suspect device close to the ATM.
It is believed the gang tried to blow the ATM out of the wall.
Army Technical Officers were tasked and the device was later made safe and removed for further examination.
It is believed the culprits fled the scene by car in the direction of Markethill.
A black Audi car was found abandoned on the Gosford Road a short time later.
Police are appealing to anyone who has information in relation to this incident to contact them.
They are particularly keen to hear from anyone who noticed a Volkswagen Passat or black Audi car, travelling between Hamiltonsbawn and Newry, prior to and after this incident.
Detectives in Ardmore can be contacted on the 101 non-emergency number.
If you prefer to provide information without giving your details you can contact the independent Crimestoppers charity anonymously on 0800 555 111.