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NCR completes spin off of Teradata, looks to future of self-service
September 30, 2007
DAYTON, Ohio - NCR Corp. today announced that it has completed the spin off of its Teradata Data Warehousing business through the distribution of a tax-free stock dividend to its stockholders. NCR distributed one share of common stock of Teradata for each share of NCR common stock to NCR stockholders of record as of the close of business Sept. 14.
NCR now no longer owns shares of Teradata, and Teradata is an independent company. Beginning Oct. 1, Teradata common stock is listed on the New York Stock Exchange under the symbol "TDC."
"I am extremely grateful for the tremendous efforts all of our employees have made over the past nine months to realize this momentous event," said Bill Nuti, chairman, chief executive and president of NCR. "As Teradata moves forward as an independent company, we wish the talented Teradata team all the best as they continue to build on their position as a global leader in the enterprise data warehousing market. "
Nuti said the event marks a "very exciting" time for NCR as we guide businesses through the evolving world of customer interactions - where point-of-service kiosks, Internet and mobile devices are rapidly becoming channels of choice for consumers."
Nuti said NCR expects to leverage its expertise in self-service technology, especially in the areas of ATM services, retail-assisted point-of-sale and self-checkout systems, automated bill payment systems and airline, hotel and hospital self-check-in and checkout kiosks.
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