Retail and hospitality know-how agency NCR Company is seeking to purchase ATM operator Cardtronics for $39 per share, or about $1.7 billion.
“The acquisition of Cardtronics will speed up and increase the NCR-as-a-service technique that we outlined at our Investor Day final month,” NCR President and Chief Govt Officer Michael Hayford stated in a Monday (Jan. 11) press release.
He added that Cardtronics’ debit community enhances NCR’s funds platform and the mixed new entity will provide a complete connection of retail and financial institution prospects “whereas capitalizing on the banking business’s transition towards infrastructure outsourcing.”
NCR’s $39 per share all-cash provide topped Apollo World Administration’s earlier bid for $35 per share to amass Cardtronics, Bloomberg reported. Shares of Cardtronics climbed 0.3 % to achieve $41.19 as of Monday morning.
With a world community of 285,000 ATMs throughout 10 international locations in North America, Europe, Asia-Pacific and Africa, Cardtronics has teamed up with quite a few lenders that shuttered bodily branches however nonetheless wished to supply prospects instantaneous entry to money.
Cardtronics’ greatest backer — Hudson Govt — owns a 19.44 % stake, in accordance with Refinitiv knowledge, per Reuters. Different buyers embrace Blackrock Institutional Belief and Vanguard Group.
Headquartered in Atlanta, Georgia, NCR affords services that assist companies work together with their prospects. Cardtronics, primarily based in Houston, Texas, makes a speciality of managing ATMS and self-service monetary kiosks.
In mid-December, Cardtronics announced a $35 per share provide by Apollo World Administration and Hudson Govt Capital. In response to a filing with the Securities and Alternate Fee (SEC), Cardtronics CEO Ed West stated promoting the corporate will assist it transfer past serving to ATM customers withdraw money.