NCR Corporation (NCR), the global leader in consumer transaction technologies, today announced that it has completed its previously-announced acquisition of Digital Insight Corporation, a leader in online and mobile banking solutions, from Thoma Bravo, LLC for $1.65 billion in cash.
"Our acquisition of Digital Insight comes at a time when financial institutions around the world are looking closely at their retail network strategies and searching for an omni-channel consumer experience," said NCR Chairman and CEO Bill Nuti. "Our Financial Services business is now uniquely positioned with a market-leading SaaS platform to help banks transform their physical and digital business models. This acquisition strengthens NCR's branch transformation strategy and positions the Company for long-term growth, accelerated margin expansion and earnings appreciation."
RBC Capital Markets, LLC acted as lead financial advisor to NCR. J.P. Morgan and BofA Merrill Lynch also acted as financial advisors and Womble Carlyle Sandridge & Rice, LLP acted as legal counsel to NCR on the Digital Insight transaction.
© Finextra Research 2014