NCR Acquires Transoft International
NCR Corporation (NYSE: NCR) has acquired Transoft International, Inc., a global leader in cash cost optimization software for financial institutions and retailers. NCR will integrate Transoft's software and SaaS-based product suite and employees into its Financial Services line of business in order to strengthen NCR's existing cash management offering, eventually bringing financial institutions and retailers a unique and compelling integrated cash management solution. Terms of the deal are not disclosed.
Transoft manages cash for hundreds of thousands of ATMs, branches, vaults and retailers around the world. Its cash cost optimization software uses complex statistical analysis to help financial institutions and retailers optimize their cash requirements and reduce costs associated with cash handling. NCR believes that cash management represents a $1 billion segment for integrated technology hardware, software and services solutions.
“The addition of Transoft's solutions and experience will help NCR build a unique and compelling integrated cash management solution,” said Peter Leav, executive vice president, NCR. “As financial institutions continue to reinvent their customer experience through intelligent deposit and branch transformation, managing cash is becoming increasingly complex, making Transoft's software an increasingly important opportunity. The integration of Transoft's software and SaaS offerings with NCR's experience in ATM and branch technology and strategies will give our customers a unique source of innovative solutions.”
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.