NCR and OKI announce the definitive acquisition agreement for key assets in Brazil, an acquisition that reinforces NCR’s presence and investment in Brazil, the companies said.
NCR Corporation and Oki Electric Industry Co., Ltd. announced a definitive agreement for NCR to acquire OKI Brasil’s IT services and select software assets for financial, retail and other industries. 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.
Financial details of the transaction were not disclosed.
