NCR Signs Definitive Agreement to Acquire Cryptocurrency Leader LibertyX
NCR Corporation (NYSE: NCR) has announced a definitive agreement to acquire LibertyX, a prominent cryptocurrency software provider, to enhance its digital currency solutions. This acquisition addresses growing consumer demand for comprehensive digital currency services, enabling customers to buy, sell, and accept cryptocurrencies. LibertyX's technology will be integrated into NCR’s offerings for banks and retailers, expanding their digital wallet capabilities. Financial details remain undisclosed, with the transaction expected to close later this year, pending regulatory approvals.
- Acquisition of LibertyX enhances NCR's digital currency capabilities.
- Integration of LibertyX technology expands NCR's market reach in banking and retail.
- Addresses increasing consumer demand for cryptocurrency services.
- Financial terms of the acquisition were not disclosed, leaving uncertainty about the transaction's impact.
- Regulatory approvals may delay the completion of the transaction.
NCR Corporation (NYSE: NCR), a leading enterprise technology provider, today announced a definitive agreement to acquire LibertyX, a leading cryptocurrency software provider.
“Due to growing consumer demand, our customers require a complete digital currency solution, including the ability to buy and sell cryptocurrency, conduct cross-border remittance and accept digital currency payments across digital and physical channels,” said Tim Vanderham, Chief Technology Officer, NCR Corporation. “The LibertyX solution will accelerate our ability to rapidly deliver these capabilities to the market.”
The LibertyX digital currency solution runs on ATMs, kiosks and point-of-sale (POS) systems today. LibertyX partners with independent ATM operators, like Cardtronics, who own and manage ATMs in the U.S. at locations like convenience stores, pharmacies, and supermarkets.
Moving forward, NCR will offer the LibertyX capabilities as part of its solutions for banks, retailers and restaurants. NCR’s digital wallet and mobile applications will provide these capabilities across NCR’s physical and digital touchpoints.
“NCR is an industry leader in banking, retail and hospitality, and has a tremendous customer base across our growth markets,” said Chris Yim, co-founder & CEO, LibertyX. “We look forward to offering NCR’s customers the ability to quickly and easily offer the digital payments and cryptocurrency capabilities consumers want, while significantly expanding the scope, scale and reach of our software.”
Financial terms of the transaction were not disclosed. The transaction is expected to close later this year. It is subject to customary closing conditions, including obtaining certain regulatory licensing consents and approvals.
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
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Cautionary Statements
This press release contains forward-looking statements, including those regarding the proposed transaction between NCR and LibertyX and the integration of our two businesses. These statements are subject to known and unknown risks, uncertainties and assumptions, and if any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our actual results could differ materially from those expressed or implied by such statements. These risks and uncertainties include but are not limited to: the risk that the proposed transaction may not be completed in a timely manner or at all; the satisfaction of conditions to completing the transaction, including the ability to obtain regulatory licensing consents and approvals; risks that the proposed transaction could disrupt current plans and operations; costs, fees and expenses related to the proposed transaction; risks related to the development of LibertyX’s product portfolio, including regulatory approvals and time to market; the risk that, even if it is completed, we may not realize the expected benefits from the transaction; and other risks described in NCR’s filings with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the year ended December 31, 2020 and subsequent Quarterly Reports on Form 10‑Q. These documents are available on the "SEC Filings" section of our website at https://investor.ncr.com/investor-relations. All forward-looking statements are based on information available to us as of the date hereof, and NCR does not assume any obligation and does not intend to update any forward-looking statements, except as required by law.
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FAQ
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