NCR Corporation enters definitive agreement to acquire LibertyX

By Pavithra R

NCR Corporation, a global enterprise technology provider for the financial industry, has announced entering into a definitive agreement to acquire LibertyX, a leading cryptocurrency software provider. Financial terms of the transaction were not disclosed. The transaction is expected to close later this year subject to customary closing conditions, including obtaining certain regulatory licensing consents and approvals.

Founded in 2013, LibertyX provides software that powers the largest nationwide network for consumers to buy and sell bitcoin. Its digital currency solution runs on ATMs, kiosks and point-of-sale (POS) systems. The firm has partnerships with independent ATM operators, like Cardtronics, who own and manage ATMs in the U.S. at locations like convenience stores, pharmacies, and supermarkets.

“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. The LibertyX solution will accelerate our ability to rapidly deliver these capabilities to the market,” said Tim Vanderham, Chief Technology Officer, NCR Corporation.

Through the acquisition, 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. 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,” said Chris Yim, co-founder & CEO, LibertyX.

Established in 1884, NCR Corporation is a leading provider of banking and commerce solutions. It provides enterprise led software and services in the financial, retail, and hospitality industries. The firm helps its clients bridge their digital and physical operations, helping them connect with consumers anytime, anywhere and streamline their business so they can differentiate, compete and win in this evolving digital world.