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. UTCUpdated Sep 14, 2021 at 1:34 p.m. UTC
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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.
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