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    CATM   GB00BYT18414

CARDTRONICS

(CATM)
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NCR to buy ATM operator Cardtronics in a $2.5 bln deal

01/25/2021 | 08:40am EDT

Jan 25 (Reuters) - NCR Corp said on Monday it would buy Cardtronics Plc in an all-cash deal valuing the ATM operator at about $2.5 billion, including debt, after outbidding investment firms Apollo Global Management Inc and Hudson Executive Capital LP.

Atlanta-based NCR, which makes ATMs and self-service kiosks for retailers and restaurants, will buy all outstanding shares of Cardtronics for $39 apiece, according to the statement. The price represents a discount of about 4.6% to Cardtronics' last close. (https://refini.tv/36cXBuL)

The deal comes after funds managed by affiliates of Apollo and Hudson Executive Capital LP decided not to raise their earlier bid of $35 per share for Cardtronics.

Cardtronics runs 285,000 ATMs in 10 countries and has processed 2.6 billion transactions since 2019, according to its website. Its customers include big financial institutions, large merchants, small businesses and independent ATM distributors.

With a 19.44% stake, Hudson Executive is Cardtronics' largest investor, according to Refinitiv data. The Houston-based operator also counts Blackrock Institutional Trust and Vanguard Group among its investors.

NCR's Chief Executive Officer Michael Hayford said the deal would pave the way for the combined company to connect their retail and banking customers. BofA Securities was the financial adviser to NCR, while Goldman Sachs & Co was the financial adviser for Cardtronics.

(Reporting by Niket Nishant in Bengaluru; Editing by Devika Syamnath)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APOLLO GLOBAL MANAGEMENT, INC. -1.11% 58.86 Delayed Quote.20.17%
CARDTRONICS 0.08% 39.01 End-of-day quote.10.51%
NCR CORPORATION 0.61% 44.4 Delayed Quote.18.18%
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Financials (USD)
Sales 2020 1 094 M - -
Net income 2020 19,1 M - -
Net Debt 2020 679 M - -
P/E ratio 2020 84,0x
Yield 2020 -
Capitalization 1 767 M 1 767 M -
EV / Sales 2019 2,07x
EV / Sales 2020 2,06x
Nbr of Employees 2 027
Free-Float 97,6%
Chart CARDTRONICS
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Income Statement Evolution
Managers and Directors
Edward Hamilton West Chief Executive Officer
Gary W. Ferrera Chief Financial Officer
Stuart Mackinnon Chief Information Officer & EVP-Technology
Dan Antilley Chief Information Security Officer
Paul A. Gullo Director & Chief Accounting Officer
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