NCR to buy crypto software maker LibertyX

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NCR, an enterprise provider of software and services to the finance, retail and hospitality industries, is set to acquire cryptocurrency software maker LibertyX.

The Georgia-based company said in a press release Monday, August 2, that it has signed a definitive agreement to acquire LibertyX in the hopes of offering customers the ability to make quick and easy payments in digital currency.

Due to growing consumer demand, our customers need a complete digital currency solution, including the ability to buy and sell cryptocurrency, make cross-border remittances, and accept digital currency payments on digital and physical channels, said Tim Vanderham, chief technology officer of NCR Corporation. declaration. The LibertyX solution will accelerate our ability to quickly bring these capabilities to market.

LibertyX software runs on ATMs, kiosks, and point-of-sale systems. LibertyX works with independent operators such as Cardtronics, which own and operate ATMs like those found in convenience stores, supermarkets and drugstores.

NCR acquired Cardtronics earlier this year for $ 2.5 billion. Michael D. Hayford, president and CEO of NCR, said earlier this year that the deal stems from an existing relationship with Cardtronics, and called his Allpoint network at no extra charge as very complementary to the platform. NCR payment. The combined company aims to facilitate connections between retail customers and bank customers.

Read more: NCR Reaches $ 2.5 Billion Acquisition Agreement for Cardtronics at $ 39 Share Price

With this latest acquisition, NCR plans to bring the capabilities of LibertyXs to banks, retailers and restaurants through its digital wallet and mobile apps.

NCR is an industry leader in banking, retail and hospitality, and has a huge customer base in our growing markets, said Chris Yim, co-founder and CEO of LibertyX. We look forward to providing NCR customers with the ability to quickly and easily deliver the digital payments and cryptocurrency capabilities consumers desire, while dramatically expanding the reach, scale and reach of our software.

Financial terms of the deal were not disclosed. The acquisition is expected to be finalized later in 2021, subject to customary closing conditions, including regulatory clearances and approvals.

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