Digital Banking
NCR Voyix reportedly considering selling digital banking unit
July 9, 2024
NCR Voyix is reportedly considering selling off its digital banking unit, which generates 20% of its annual revenue. Goldman Sachs, TPG and Warburg Pincus are among the potential bidders for the unit, according to a report by Reuters.
The company hopes this sale will gain $3 billion in revenue. Currently, the digital banking unit offers software to more than 450 financial institutions, according to the report.
In NCR Voyix's Q1 financial results of 2024, it announced its GAAP revenue was $862 million, down from $916 million year over year, however its digital banking revenue had increased to $147 million compared to $137 million year over year.
In 2022, NCR Corp. announced it would separate into two companies, which it completed in October 2023. However, prior to that separation, NCR Corp. had considering selling its digital banking business.
"As a matter of company policy, NCR Voyix does not comment on rumors or speculation. We remain focused on our forward-thinking strategies to accelerate our growth and drive industry evolution as a focused platform software and services company," NCR Voyix said in an email statement to ATM Marketplace.
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