NCR Announces Purchase of Digital Insight Corp. for $1.65B, Expecting Deal to Add to 2014 Adj. EPS
NCR Corporation (NYSE: NCR), the global leader in consumer transaction technologies, took the next step in the transformation of its Financial Services business, announcing that it had entered into a definitive agreement to purchase Digital Insight Corporation, a leader in online and mobile banking solutions, for a purchase price of $1.65 billion, and that it had completed the acquisition of Alaric Systems Limited, a provider of secure transaction switching and fraud prevention software, for a purchase price of approximately $84 million. Digital Insight is majority owned by Thoma Bravo, LLC.
Together, these companies complement and extend NCR's existing capabilities in the banking industry to form a complete enterprise software platform that will deliver a unique and compelling consumer experience across all digital and physical channels - mobile, online, branch, and ATM. The combination will help retail banks and other financial institutions reduce legacy costs and enable solutions for new, more nimble branches, by providing one platform for omni-channel services and all payment and transaction types.
Today's announcement follows the successful acquisitions of Retalix and Radiant Systems that have transformed NCR's Retail and Hospitality businesses by delivering revenue growth, improved profitability, and an increased revenue mix of software and SaaS for NCR. The acquisitions of Digital Insight and Alaric Systems continue a strategic plan of transformative acquisitions across all of the company's three core lines of business and will enhance NCR's existing capabilities, delivering the industry's most comprehensive suite of retail banking solutions.
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