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NCR makes $1.7bn offer for Cardtronics

NCR makes $1.7bn offer for Cardtronics

NCR has made a cash offer worth more than $1.7 billion to buy Cardtronics, trumping a bid made late last year for the ATM operator by Apollo Global Management and Hudson Executive Capital.

ATM manufacturer NCR says it is offering $39 a share for Cardtronics, beating the $35 per share deal proposed by Apollo and Hudson.

Cardtronics runs 285,000 ATMs in 10 countries and claims giant banks and merchants, as well as small businesses among its clients.

Michael Hayford, CEO, NCR, says: "Cardtronics’ debit network is highly complementary to NCR’s payments platform and will enable the combined company to seamlessly connect retail and bank customers while capitalizing on the banking industry’s transition toward infrastructure outsourcing."

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