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Dec. 2, 2013, 4:28 PM
- NCR is acquiring Digital Insight, a major provider of online/mobile banking software and services, for $1.65B. The company hasn't yet disclosed exactly how the deal will be financed - NCR had $460M in cash at the end of Q3, and over $2.2B in debt - but it does say the purchase will be accretive to 2014 EPS. (PR)
- NCR also says it has acquired Alaric Systems, a British provider of secure transaction processing and fraud detection software, for $84M from P-E firm Thoma Bravo. That deal is also expected to be accretive to 2014 EPS.
- The purchases follow NCR's acquisition of retail point-of-sale (POS) software provider Retalix, and represent a huge expansion of the company's efforts to offset slow POS hardware growth (financial services hardware sales have been particularly soft) by ramping its software sales.
- NCR notes Digital Insight has a customer base of 1K+ financial institutions, and will help it both address the mid-market banking segment and "offer its clients additional solutions for mobile, bill pay and online banking."
- NCR +1.6% AH. CC at 5PM ET.
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Country: United States
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