NCR and OKI Announce Definitive Acquisition Agreement for Key Assets in Brazil
Acquisition Reinforces NCR’s Presence and Investment in Brazil
ATLANTA and TOKYO – June 6, 2019 – NCR 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 and employees.
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.
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About OKI
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/.
NCR News Media Contact:
Scott Sykes
NCR Corporation
917-232-6720
scott.sykes@ncr.com
NCR Investor Contact:
Michael Nelson
NCR Corporation
678-808-6995
michael.nelson@ncr.com
OKI Contact:
Public Relations Division
Oki Electric Industry Co., Ltd.
+81-3-3501-3835
press@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.
NCR Corporation (NYSE: NCR) is a leader in transforming, connecting, and running technology platforms for self-directed banking, stores, and restaurants. NCR is headquartered in Atlanta, Georgia, with 35,000 employees globally. NCR is a trademark of NCR Corporation in the United States and other countries.
NCR VOYIX Corporation (NYSE: VYX) is a leading global provider of digital commerce solutions for the retail, restaurant and digital banking industries. NCR VOYIX transforms retail stores, restaurant systems and digital banking experiences with comprehensive, platform-led SaaS and services capabilities. NCR VOYIX is headquartered in Atlanta, Georgia, with approximately 16,000 employees in 35 countries across the globe.
This release contains forward-looking statements. Forward-looking statements use words such as “expect,” “anticipate,” “outlook,” “intend,” “plan,” “confident,” “believe,” “will,” “should,” “would,” “potential,” “positioning,” “proposed,” “planned,” “objective,” “likely,” “could,” “may,” and words of similar meaning, as well as other words or expressions referencing future events, conditions or circumstances. Statements that describe or relate to NCR’s or NCR VOYIX’s plans, goals, intentions, strategies, financial outlook, NCR’s or NCR VOYIX’s expectations regarding the Spin-Off, NCR’s or NCR VOYIX’s intention to consummate the offering and issue the Notes or the intended use of proceeds from the offering of the Notes and enter into the new senior secured credit facilities, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Forward-looking statements are based on our current beliefs, expectations and assumptions, which may not prove to be accurate, and involve a number of known and unknown risks and uncertainties, many of which are out of the NCR’s and NCR VOYIX’s control. Forward-looking statements are not guarantees of future performance, and there are a number of important factors that could cause actual outcomes and results to differ materially from the results contemplated by such forward-looking statements. Additional information concerning these and other factors can be found in NCR and NCR VOYIX’s filings with the U.S. Securities and Exchange Commission, including NCR’s most recent annual report on Form 10-K, most recent quarterly report on Form 10-Q and current reports on Form 8-K and NCR VOYIX’s registration statement on Form 10, most recent quarterly report on Form 10-Q and current reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made. Neither NCR nor NCR VOYIX undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Michael Nelson
NCR Corporation
678-808-6995
michael.nelson@ncr.com
Scott Sykes
NCR Corporation
scott.sykes@ncr.com