NCR in talks to sell $2 bn digital banking business

NCR, the ATM and financial software vendor preparing to break into two companies, is considering a sale of its digital banking business that could be worth more than $2 billion, Reuters news report said.
NCR Commerce PlatformNCR has held talks with its financial advisers about the possibility of launching a sale process for the digital banking unit.

Digital banking provides operational software to more than 600 banks and credit unions and sits within NCR’s digital commerce division.

NCR said September it planned to separate into two publicly listed companies by the end of 2023: one holding its ATM unit and the other housing its digital commerce operations, which provide payments solutions to companies and small businesses.

NCR executives have said that they remained open to selling parts of the business prior to the split, if it offered better value to shareholders.

NCR’s digital banking unit was projected to generate about $257 million of earnings before interest, tax, depreciation and amortization in 2023, according to a research note from Stephens Inc analysts in September.

The Atlanta-based NCR has a market value of $3.4 billion. NCR had debt net of cash as of the end of March of more than $5 billion.

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