TRY FOR FREE

NCR Corp. Gets $820M Investment From Private Equity Firm Blackstone

NCR Corporation, an American computer hardware, software and electronics company, received an $820-million investment from private equity firm Blackstone Group. The private equity firm will get a 17% stake in NCR Corp, one the world’s biggest makers of automated teller machines. The money will be used to buy back up to $1 billion of NCR’s common stock. The deal is expected to close by the end of the year.

NCR also reported that the investment will be used by the company to speed up its transformation into a software and services company.

The Duluth, Georgia-based NCR, which was founded in 1884, has been trying to expand into the software sector. It recently launched a cloud-based software system for ATMs called Kalpana which is meant to replace outdated PC software on the machines and help owners cut costs.

...
To continue reading, sign up for MEDICI Inner Circle and get free access for 7 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.

RECOMMENDED