Software firm NCR makes $1.7bn bid for Cardtronics
Software firm NCR has offered to buy cash machine operator Cardtronics for around $1.7bn (£1.3bn), it was announced today.
The company, which provides technology for the financial, retail and hospitality industries, has offered $39 per share for Cardtronics.
The bid comes weeks after it was reported that the latter firm had agreed to a $35 per share buyout offer from Apollo Global Management and Hudson Executive Capital.
Michael Hayford, president and chief executive of NCR, stated, “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.”
Texas-based Cardtronics is the world’s largest operator of non-bank cash machines.
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Shares in the group rose 15 per cent this morning on the back of the offer.