NCR has revealed the purchase of Cardtronics in a deal valued at USD 2.5 billion, according to zdnet.com.
NCR, a predominate maker of ATMs and point-of-sale terminals, plans to use the deal to accelerate its as-a-service strategy and non-hardware revenue. Cardtronics is a non-bank ATM operator and provider of managed services and payment processing for retailers and financial institutions. NCR said Cardrtonic’s Allpoint retail-based, surcharge-free ATM network is complementary to NCR’s payments platform.
The company also sees an opportunity to push further into the payments space via Cardtronics’ existing network and installed base. The combined company is expected to achieve USD 100 million to USD 120 million in run rate operating cost synergies by the end of 2022. The deal is expected to close by mid-year 2021.
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Categories: ATMs
