NCR Corporation, Voyix, and Veritas Capital have joined forces to create a leading digital banking business. This acquisition is a significant milestone in the industry.
NCR Corporation has a long history of innovation in the financial technology space. With a presence in over 300 million bank and retail ATMs worldwide, their expertise is unparalleled.
The acquisition brings together NCR's cutting-edge technology with Voyix's expertise in digital banking and Veritas Capital's financial resources. The result is a formidable player in the digital banking market.
This strategic partnership is expected to drive growth and innovation in the industry, providing customers with seamless and secure digital banking experiences.
Take a look at this: Veritas Capital
NCR Voyix Sale
NCR Voyix is simplifying its operations by selling its digital banking business to private equity firm Veritas Capital for $2.45 billion in cash, plus a future contingent installment of up to $100 million.
The deal is expected to close by the end of 2024, allowing NCR Voyix to focus on its core software and services offerings for restaurants and retailers.
On a similar theme: B Capital
NCR Voyix's digital banking platform has been strategically designed to grow and expand with its customers over time, but the company has decided to divest this segment to concentrate on its core competencies.
The sale will enable NCR Voyix to drive value for its shareholders by strengthening its financial position and focusing on its core restaurant and retail customers.
Veritas Capital, the buyer, has a proven track record of successfully executing similar business carveouts and driving growth, and sees significant runway for growth in NCR Voyix's digital banking platform.
Here are the key details of the sale:
- Sale price: $2.45 billion in cash, plus a future contingent installment of up to $100 million
- Expected closing date: End of 2024
- Reason for sale: To focus on core software and services offerings for restaurants and retailers
Frequently Asked Questions
What does NCR Voyix do?
NCR Voyix specializes in digital commerce solutions, including point-of-sale technology and self-checkout machines. It enables seamless transactions and enhances customer experiences in various retail environments.
Sources
- https://finovate.com/ncr-voyix-sells-digital-banking-business-to-veritas-capital/
- https://mergr.com/transaction/veritas-capital-acquires-ncr-voyix---digital-banking
- https://www.fstech.co.uk/fst/Ncr_voyix_sells_digital_banking_business_to_veritas_capital_in_245bn_deal.php
- https://hipther.com/latest-news/2024/08/07/76343/ncr-voyix-to-sell-digital-banking-unit-to-veritas-capital-for-2-45-billion/0/
- https://www.linkedin.com/posts/privateequitywire_coming-off-autopilot-the-sec-issues-guidance-activity-7226869402262986752-J7DC
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