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NCR to Buy LibertyX to Add Digital-Currency Software to Digital Wallet, Mobile Apps

The acquisition will make LibertyX capabilities available to banks, restaurants and retailers.

Aug 2, 2021 at 4:33 p.m. UTC
Updated Sep 14, 2021 at 1:34 p.m. UTC

NCR Corporation (NYSE: NCR), one of the world’s largest makers of automated teller machines (ATMs), agreed to acquire cryptocurrency software provider and ATM-network firm LibertyX in an all-stock deal worth $73 million at market close Tuesday.

  • NCR will pay 1.66 million shares for LibertyX, said CFO Tim Oliver on his Tuesday earnings call. The parties had not initially disclosed the terms.
  • Atlanta-headquartered NCR said it plans to integrate LibertyX capabilities and make them available to banks, retailers and restaurants through its digital wallet and mobile applications.
  • LibertyX’s digital-currency software runs on ATMs, kiosks and point-of-sale partners such as Cardtronics, which owns and manages ATMs in the U.S. at locations such as convenience stores, pharmacies and supermarkets.
  • “Due to growing consumer demand, our customers require a complete digital currency solution, including the ability to buy and sell cryptocurrency, conduct cross-border remittance and accept digital currency payments across digital and physical channels,” NCR CTO Tim Vanderham said.
  • As reported by CoinDesk last month, the number of crypto ATMs installed globally has increased by more than 70% this year to 24,030.

UPDATE: August 4, 2021, 10:30 EDT: Transaction details added.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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