Digital Banking

NCR to separate into 2 companies

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September 16, 2022

NCR Corp.will separate into two independent companies, with one focused on digital commerce and the other specializing on ATMs, according to a press release.

The ATM company will deliver NCR's ATM-as-a-service to customers in the banking and retail space, as well as leverage digital currency solutions. The digital commerce company will utilize NCR's software to deliver digital transformation for retail, hospitality and digital banking.

"This announcement is the right next step in NCR's transformation. The separation would create two strong companies at scale, each with distinctive business goals and capital structures and allocation, as well as increased flexibility to innovate," Michael D. Hayford, NCR CEO, said in the release. "Each company can simplify its operations and focus on what it does best, and because they will have different growth profiles and economic models, separating them will also provide investors with greater transparency and a better ability to value each of the businesses. And, importantly, we believe this approach will put us in the best position to drive the most competitive products and solutions for our customers."

NCR aims to complete the separation by the end of 2023.