NCR to acquire Cardtronics for $39.00 per share in cash
By Pavithra R
NCR Corporation, a global enterprise technology provider for the financial, retail and hospitality industries, has announced submitting an offer to acquire all outstanding shares of Cardtronics for $39.00 per share in cash.
Founded in 1993, Texas-based Cardtronics is a global growth company expanding ATM management and cash access. It allows financial institutions of all sizes to return the focus to their customers and core business by removing the complex burden of ATM management.
The company owns and operates Allpoint Network, a surcharge-free network that brings in surcharge-avoiders to use participating ATMs. The solution is being used by Banks, Credit Unions (CUs), and prepaid card operators to stay competitive by providing their cardholders with access to the Allpoint network. The company works directly with FIs to proactively drive awareness of Allpoint ATMs through marketing programs, social media, mobile location services, and more.
“The acquisition of Cardtronics will accelerate and expand the NCR-as-a-service strategy that we outlined at our Investor Day last month. Cardtronics’ debit network is highly complementary to NCR’s payments platform and will enable the combined company to seamlessly connect retail and bank customers while capitalizing on the banking industry’s transition toward infrastructure outsourcing.“
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. NCR is a trademark of NCR Corporation in the U.S. and other countries. According to company data, its digital banking solution is being used by more than 600 Financial institutions.
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