NCR to Divide and Conquer

The payment technology company will split into two separate entities.

August 17, 2023

NCR, an enterprise technology provider, continues its progress in splitting into two separate entities.

The company announced that the Securities and Exchange Commission (SEC) has declared effective the Registration Statement on Form 10 filed by NCR Atleos.

NCR Atleos will manage banking services and ATMs with intentions to “enable customers to meet global demand for ATM access while leveraging new ATM transaction types, including digital currency,” according to NCR.

NCR Voyix will “bring together NCR global retail, hospitality and digital banking executives with industry leaders to deliver best-in-class digital commerce solutions. The company will build on NCR’s platform-based model to drive innovation and boost operational efficiency for its customers.”

“NCR is well positioned to successfully separate into two market-leading companies, each with opportunities for long-term growth,” said Michael D. Hayford, NCR CEO. “Q2 was one of the strongest quarters in our history and NCR Atleos and NCR Voyix are ready to build on this momentum, create value for shareholders and make each a top destination for talent globally.”

Finalization of the split is expected in Q4 of this year. NCR’s board of directors approved the proposed separation in September of 2022.

NACS Daily covered NCR recently as it was recognized as the leader in self-checkout technology sales for the 20th consecutive year. In 2022, over 190,000 self-checkout units were delivered globally, the second-highest figure to date.