NCR Announces Acquisition of Store Virtualization Technology Leader Zynstra
ATLANTA – December 23, 2019 – NCR Corporation (NYSE: NCR), a global enterprise technology company for the retail, hospitality and banking industries, today announced the acquisition of U.K.-based Zynstra, a provider of edge virtualization technology.
NCR and Zynstra have worked together for several years, reflected in the launch of NCR Software Defined Store introduced in January 2019 and in use by companies like Pilot Flying J. This unique, subscription-based virtualization solution is one of the critical pillars of NCR’s next-generation store architecture for the retail and hospitality industries.
By virtualizing back and front office technology, businesses can realize significant hardware cost savings and enterprise technology management can be much more cost effective. For example, with a simple swipe of the screen a device can change from a POS terminal to an inventory management console.
“This acquisition is another demonstration of our strategy to acquire new companies to enhance product capabilities and extend our leadership in the vertical industries we serve,” said NCR President and Chief Executive Officer Michael D. Hayford. “The addition of Zynstra’s virtualization technology to our software stack gives NCR even more solutions to help our customers run their store or restaurant end-to-end.”
A recent Total Economic Impact™ study commissioned by NCR and conducted by Forrester Research
of NCR Software Defined Store customers found that an average organization with approximately 750 retail stores could see a 164 percent return on investment through store virtualization.
“At Zynstra, we’ve built a world-class capability that we know can make a significant difference for our clients,” said Nick East, chief executive officer, Zynstra. “When we started to work with NCR, we realized that our combined strengths made for an unmatched service, with a global reach. I am personally very excited about what it means for our customers and our team and am looking forward to leading the acceleration of our vision for the market.”
“We’ve worked closely with the NCR and Zynstra teams and have first-hand experience of their complementary technology and ability to deliver together,” said Mike Rodgers, chief information officer, Pilot Flying J. “Software Defined Store is strategic for us, virtualizes all our in-store systems and is delivering a great return on investment. This combination makes sense and we’re excited about what’s coming.”
NCR’s solutions help businesses compete in an evolving landscape of physical and digital consumers by providing advisory and consulting services, hardware/software, payments, support and managed services. Retailers can see the benefits of edge virtualization technology and NCR’s next-generation store architecture first hand in booth #4619 at NRF’s BIG Show 2020, January 12-14, 2020.
NCR purchased Zynstra for approximately 100 Million British Pound Sterling. The acquisition is expected to be slightly dilutive to earnings per share in 2020.
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
Twitter: @NCRCorporation
Facebook: www.facebook.com/ncrcorp
LinkedIn: www.linkedin.com/company/ncr-corporation
YouTube: www.youtube.com/user/ncrcorporation
Media Contact
Warner May
NCR Corporation
(404) 983-2500
warner.may@ncr.com
Mariana Fischbach
Ketner Group Communications (for Zynstra)
512-794-8876
mariana@ketnergroup.com
NCR Investor Relations
Michael Nelson
NCR Corporation
(678) 808-6995
michael.nelson@ncr.com
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