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NCR Corporation has appointed Mark W. Begor, CEO of Equifax, as the independent Lead Director, effective April 20, following his election at the 2021 Annual Meeting. Begor, who joined the NCR Board in February 2020, has a strong background in operational leadership and technology transformation. The Board also nominated Martin Mucci, President and CEO of Paychex, for election as a Director. NCR's Executive Chairman praised Begor's qualifications and expressed confidence in the company's strategy to transition into an as-a-service provider, bolstered by Begor's and Mucci's leadership.
NCR Corporation (NYSE: NCR) announced a partnership with Redstone Federal Credit Union, a $6.2 billion-asset institution, to enhance its business banking services. Redstone FCU aims to provide a seamless digital experience for its business members, leveraging NCR's established platform that has been successful in consumer banking. This collaboration includes the integration of over 130 Interactive Teller Machines (ITMs), facilitating access to traditional banking services via advanced technology. The move comes as online transactions among business members have surged since the pandemic.
NCR Corporation (NYSE: NCR) has announced that its President and CEO, Michael D. Hayford, will deliver a presentation to investors at the Morgan Stanley Technology, Media and Telecom Virtual Conference on March 3, 2021, at 5:00 p.m. Eastern Time. A live webcast and replay will be accessible in the Investor Relations section of NCR.com for 90 days following the session.
NCR specializes in providing software and services to the banking, retail, and hospitality industries, employing 36,000 staff worldwide.
NCR Corporation (NYSE: NCR) reported a fourth-quarter revenue of $1.631 billion, a decline of 14% year-over-year, primarily due to COVID-19 impacts. The full year generated $641 million in cash flow from operations and $448 million in free cash flow. Notably, software and services revenue rose to 72% of total revenue, up from 65% in 2019. The company announced a proposed transaction with Cardtronics to enhance its NCR-as-a-Service strategy. However, a loss from operations was reported at $63 million, down from a prior income of $182 million, indicating significant challenges ahead.
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NCR Corporation (NYSE: NCR) has announced the acquisition of Terafina, enhancing its Digital First Banking platform by integrating customer onboarding solutions. This strategic move aims to increase revenue growth across consumer and business sectors while improving customer satisfaction. Terafina's integration is expected to strengthen relationships and brand loyalty for financial institutions. The financial terms of the deal remain undisclosed, but it aligns with NCR's strategy to incorporate early-stage software companies to bolster its product offerings in the financial sector.
NCR Corporation (NYSE: NCR) will announce its fourth quarter and full year 2020 financial results on February 9, 2021, after market close. A conference call is scheduled at 4:30 p.m. Eastern Time on the same day. Interested participants should connect 15 minutes early. The call will be accessible via toll-free and local dial-in numbers. Archived information will be available on NCR's investor website shortly after the call. With a global workforce of 36,000, NCR is a leader in software and services for the financial, retail, and hospitality sectors.
On January 28, 2021, Factor4 announced a partnership with NCR Corporation (NYSE: NCR) to integrate its gift card solutions with NCR's Silver and Counterpoint POS systems. This collaboration aims to provide merchants with a comprehensive omnichannel gift card solution that includes online, mobile, and contactless transactions. Factor4 reported record growth in 2020, supported by rising demand for digital payments, with over 125 key integration partners enhancing merchant flexibility.
NCR Corporation (NYSE: NCR) has announced its acquisition of Cardtronics (Nasdaq: CATM) for $39.00 per share, totaling an enterprise value of approximately $2.5 billion. The deal aims to enhance NCR's revenue mix towards software and services, accelerating its NCR-as-a-Service strategy. Both companies' Boards have approved the transaction, expected to close mid-2021, subject to regulatory approvals. NCR plans to finance the acquisition through cash and committed financing. The combined entity anticipates achieving $100-$120 million in cost synergies by the end of 2022.
NCR Corporation (NYSE: NCR) has proposed to acquire all outstanding shares of Cardtronics (Nasdaq: CATM) for $39.00 per share in cash. This acquisition aims to enhance NCR's NCR-as-a-service strategy and strengthen its payments platform. CEO Michael Hayford emphasized the strategic importance of Cardtronics' debit network, which complements NCR’s offerings and supports the banking industry’s trend towards infrastructure outsourcing. The deal is expected to provide synergies and improve customer connectivity.
