NCR Atleos Completes Spinoff and Begins Day One of Operations and NYSE Trading

Rhea-AI Summary

NCR Corporation completes planned separation into two companies

Positive

• Atleos begins trading on NYSE under symbol NATL
• Atleos is a leader in self-service banking experiences
• Atleos is the #1 provider of multi-vendor ATM software applications and middleware

Negative

• None.

ATLANTA--(BUSINESS WIRE)-- Effective yesterday, NCR Corporation successfully completed its planned separation into two publicly traded companies. NCR Atleos (“Atleos”) will operate independently as a leader in facilitating banks and retailers to deliver best-in-class self-service banking experiences for consumers. Further, Atleos today begins trading of its common stock on the New York Stock Exchange (NYSE) under the symbol NATL.

“Today marks the first day as Atleos. We launch our new company from a position of market leadership and unwavering focus on our customers. I am confident we will continue to lead and transform the ATM industry,” said Tim Oliver, Chief Executive Officer, Atleos.

Atleos is:

• A service-led foundational ATM business with a robust software stack and leading hardware position.
• The world’s biggest network with scalable financial utility that financial institutions and retailers use to extend digital and physical transactions.
• The most comprehensive ATM as a Service offering, as a full outsourcing of all responsibility for ATM networks.
• Leading the way for the ATM and payments industry.
  • #1 retail surcharge-free network
  • #1 provider of multi-vendor ATM software applications and middleware
  • #1 across 30+ countries for ATM installs
• A global corporation. 55% of its revenue, and 80% of employees are based outside the U.S.
  • 600,000 global devices under management
  • 80,000+ ATM locations owned and operated
  • 140 countries supported by Atleos ATMs
• Helping businesses to operate at a payments crossroads. The payments environment is dynamic and the ability to convert assets from digital to physical or physical to digital is more important than ever.
• A software enabled services company that is vertically integrated to manufacture special-use hardware that is part of its solution.
• Seeing 65% recurring revenue, driven by long-term contracts, subscriptions, and transaction volumes.

To learn more about Atleos, visit the company’s new website: https://www.ncratleos.com.

About Atleos

Atleos (NYSE: NATL) is a leader in facilitating banks and retailers to deliver best-in-class self-service banking experiences for consumers. Atleos helps customers expand their reach, provide greater financial access for customers and reduce operational complexity through industry-leading technologies, unmatched global services capabilities, the largest surcharge-free network and expertise in running ATM networks. Atleos is headquartered in Atlanta, Georgia, with 20,000 employees globally.

Web site: https://www.ncratleos.com
X (Twitter): https://twitter.com/ncratleos
Facebook: https://www.facebook.com/Atleos.NCR/
LinkedIn: https://www.linkedin.com/company/ncratleos
YouTube: https://www.youtube.com/@ncratleos
Instagram: https://www.instagram.com/ncratleos/

Cautionary Statement Regarding Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the “Act”). Forward-looking statements use words such as “expect,” “anticipate,” “outlook,” “intend,” “plan,” “confident,” “believe,” “will,” “should,” “would,” “potential,” “positioning,” “proposed,” “planned,” “objective,” “likely,” “could,” “may,” and words of similar meaning, as well as other words or expressions referencing future events, conditions or circumstances. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Act. Statements that describe or relate to NCR Atleos’ plans, goals, intentions, strategies, financial outlook, NCR Atleos’ expectations regarding the Spin-Off, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Forward-looking statements are based on our current beliefs, expectations and assumptions, which may not prove to be accurate, and involve a number of known and unknown risks and uncertainties, many of which are out of NCR Atleos’ control. Forward-looking statements are not guarantees of future performance, and there are a number of important factors that could cause actual outcomes and results to differ materially from the results contemplated by such forward-looking statements. Nor can there be any guarantee that the ATM business after a separation will be able to realize any of the potential strategic benefits, synergies or opportunities as a result of these actions. Neither can there be any guarantee that shareholders will achieve any particular level of shareholder returns. Nor can there be any guarantee that the proposed separation will maximize value for shareholders, or that the separate ATM business will be commercially successful in the future or achieve any particular credit rating or financial results. Additional information concerning these and other factors can be found in NCR Atleos’ filings with the U.S. Securities and Exchange Commission, including NCR Atleos’ registration statement on Form 10, most recent quarterly report on Form 10-Q and current reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made. NCR Atleos does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231017184416/en/

NCR Atleos Media Contact

Scott Sykes

NCR Atleos

scott.sykes@ncratleos.com

NCR Atleos Investor Contact

Omar Azimi

NCR Atleos

omar.azimi@ncratleos.com

Source: NCR Atleos

FAQ

What is the symbol for Atleos on the NYSE?

The symbol for Atleos on the NYSE is NATL.

What is Atleos' focus?

Atleos focuses on delivering best-in-class self-service banking experiences for consumers.

What is Atleos' position in the ATM industry?

Atleos is a leader in the ATM industry and is the #1 provider of multi-vendor ATM software applications and middleware.

Where can I learn more about Atleos?

You can learn more about Atleos on their new website: https://www.ncratleos.com.