Corporation (NYSE: NCR) and Oki Electric Industry Co., Ltd. (OKI,
TOKYO: 6703) today announced a definitive agreement for NCR to acquire
OKI Brasil’s IT services and select software assets for financial,
retail and other industries. Financial details of the transaction were
not disclosed. Neither OKI’s manufacturing operations nor its printing
business in Brazil are included in the acquisition agreement.
“This acquisition allows NCR to further scale its business and bring
additional value to customers by increasing the breadth of NCR’s service
offerings in Brazil, including expanded support options for banks,
retailers and restaurants,” said NCR President and Chief Executive
Officer Michael D. Hayford.
“This is a great opportunity for our Mechatronics Division to focus on
the new global business strategy to design and manufacture note
recycling technology, and shift the direction of our sales efforts to
the recycling modules in addition to finished ATM products,” said Shinya
Kamagami, OKI President. “We are delighted to work with NCR going
forward, and we see this as a very complementary business relationship.”
The transaction is subject to customary closing conditions. The two
companies anticipate a smooth transition for customers, channel partners
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leading software- and services-led
enterprise provider in the financial, retail, hospitality, telecom and
technology industries. NCR is headquartered in Atlanta, Ga., with 34,000
employees and does business in 180 countries. NCR is a trademark of NCR
Corporation in the United States and other countries.
Web site: www.ncr.com
Founded in 1881, Oki Electric Industry (OKI) is Japan's leading
information and telecommunication manufacturer. Headquartered in Tokyo,
Japan, OKI provides top-quality products, technologies, and solutions to
customers through its info-telecom systems and printer operations. Its
various business divisions function synergistically to bring to market
exciting new products and technologies that meet a wide range of
customer needs in various sectors. Visit OKI's global website at https://www.oki.com/.
Cautionary Statement Regarding Forward-Looking Statements
Statements in this announcement regarding the proposed transaction, the
expected timetable for completing the proposed transaction, future
financial and operating results, future capital structure and liquidity,
benefits of the proposed transaction, general business outlook and any
other statements about the future expectations, beliefs, goals, plans or
prospects of the board or management of NCR constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Any statements that are not statements of historical
fact (including statements containing the words "expects," "intends,"
"anticipates," "estimates," "predicts," "believes," "should,"
"potential," "may," "forecast," "objective," "plan," or "targets" and
other similar expressions) are intended to identify forward-looking
statements. There are a number of factors that could cause actual
results or events to differ materially from those indicated by such
forward-looking statements, including: the ability to obtain requisite
regulatory approvals; the potential impact of the announcement or
consummation of the proposed transaction on relationships, including
with employees, suppliers and customers; the ability to achieve the
value creation contemplated by the proposed transaction; and the other
factors and financial, operational and legal risks or uncertainties
described in the NCR’s public filings with the SEC.
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