Transaction With Cardtronics Expected to Close June 21, 2021

Rhea-AI Summary

NCR Corporation (NYSE: NCR) is set to finalize its acquisition of Cardtronics (Nasdaq: CATM) on June 21, 2021. The all-cash transaction will buy Cardtronics' shares at $39.00 each, totaling around $2.5 billion in enterprise value. Following the transaction, both companies will operate independently until receiving the necessary U.K. regulatory approvals. The acquisition is projected to enhance NCR's non-GAAP EPS in the first full year after the deal closes, highlighting NCR’s strategic growth in the financial services sector.

Positive

• Acquisition of Cardtronics expected to be accretive to NCR’s non-GAAP EPS in the first full year post-transaction.
• Transaction value of approximately $2.5 billion indicates NCR's strong investment strategy.

Negative

• None.

NCR Corporation (NYSE: NCR), a global enterprise technology provider for the financial, retail and hospitality industries, today announced that it remains on track to close the legal transaction with Cardtronics (Nasdaq: CATM) and expects to complete the transaction on June 21, 2021.

After the expected completion of the transaction NCR and Cardtronics will continue to operate as separately managed companies until we receive necessary U.K. regulatory approvals and consents.

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 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 Cardtronics’ scale, expertise and innovation, top-tier merchants and businesses of all sizes use their 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.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005848/en/

FAQ

What is the expected completion date for NCR's acquisition of Cardtronics?

NCR expects to complete the acquisition of Cardtronics on June 21, 2021.

What is the acquisition price per share for Cardtronics?

NCR will acquire Cardtronics for $39.00 per share.

What is the total enterprise value of the Cardtronics acquisition?

The total enterprise value of the Cardtronics acquisition is approximately $2.5 billion.

How will the acquisition affect NCR's earnings?

The acquisition is expected to be accretive to NCR’s non-GAAP EPS in the first full year after the close of the transaction.