NCR Completes Transaction with Cardtronics

Rhea-AI Summary

NCR Corporation (NYSE: NCR) has successfully completed its acquisition of Cardtronics (NASDAQ: CATM), marking a significant step in enhancing its NCR as a Service strategy. The deal, valued at approximately $2.5 billion, was executed with a cash offer of $39.00 per share for Cardtronics' outstanding shares. This acquisition is anticipated to positively impact NCR's non-GAAP EPS in the first full year following closure. Cardtronics will operate as a wholly owned subsidiary, enabling NCR to integrate its services post regulatory approval from the UK's Competition and Markets Authority.

Positive

• Acquisition of Cardtronics enhances NCR's service offerings and operational capabilities.
• Transaction valued at $2.5 billion, expected to be accretive to non-GAAP EPS in the first full year.

Negative

• None.

NCR Corporation (NYSE: NCR), a global enterprise technology provider, today announced that it has closed its transaction with Cardtronics (NASDAQ: CATM).

“We are pleased to reach today’s milestone and to be one step closer to combining our two outstanding companies,” said Michael D. Hayford, President and Chief Executive Officer of NCR. “This combination will accelerate our NCR as a Service strategy and enhance our ability to provide technology solutions and capabilities that run our customers’ businesses.”

Cardtronics is now a wholly owned subsidiary of NCR. NCR can begin integration after regulatory approval from the Competition and Markets Authority of the United Kingdom.

On January 25, 2021, NCR and Cardtronics announced that they had entered into a definitive agreement under which NCR would acquire all outstanding shares of Cardtronics for $39.00 per share in an all-cash transaction with an enterprise value of approximately $2.5 billion, including debt. The transaction is expected to be accretive to NCR’s non-GAAP EPS in the first full year following the close of the transaction.

About NCR Corporation

NCR Corporation (NYSE: NCR) is a leading software- and services-led enterprise provider in the financial, retail and hospitality industries. NCR is headquartered in Atlanta, Ga., with 36,000 employees globally. NCR is a trademark of NCR Corporation in the United States and other countries.

Web site: www.ncr.com
Twitter: @NCRCorporation
Facebook: www.facebook.com/ncrcorp
LinkedIn: www.linkedin.com/company/ncr-corporation
YouTube: www.youtube.com/user/ncrcorporation

About Cardtronics

Cardtronics is a trusted leader in financial self-service, enabling cash transactions at over 285,000 ATMs across 10 countries in North America, Europe, Asia-Pacific, and Africa. With its scale, expertise and innovation, top-tier merchants and businesses of all sizes use its ATM solutions to drive growth, in-store traffic, and retail transactions. Financial services providers rely on Cardtronics to deliver superior service at their own ATMs, on Cardtronics ATMs where they place their brand, and through Cardtronics' Allpoint Network, the world’s largest retail based surcharge-free ATM network, with over 55,000 locations. As champions of cash, Cardtronics converts digital currency into physical cash, driving payments choice for businesses and consumers alike. Learn more about Cardtronics by visiting www.cardtronics.com and by following us on LinkedIn and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210621005376/en/

FAQ

What is the significance of NCR's acquisition of Cardtronics?

NCR's acquisition of Cardtronics enhances its NCR as a Service strategy and operational capabilities, potentially boosting its financial performance.

What was the acquisition price for Cardtronics by NCR?

NCR acquired Cardtronics for $39.00 per share, totaling approximately $2.5 billion.

When was the acquisition of Cardtronics by NCR announced?

The acquisition was initially announced on January 25, 2021.

What is the expected financial impact of the Cardtronics acquisition on NCR?

The acquisition is expected to be accretive to NCR's non-GAAP EPS in the first full year following the transaction's closure.

How will Cardtronics operate after the acquisition by NCR?

Cardtronics will operate as a wholly owned subsidiary of NCR after integration, pending regulatory approval.