NCR completes acquisition of Tidel's ATM business
05 January 2006 | 3270 views | 0
Source: NCR Corporation
NCR Corporation (NYSE:NCR) and Tidel Technologies, Inc. (Other OTC:ATMS.PK), today announced the completion of NCR's acquisition of Tidel's automated teller machine (ATM) assets, as approved by a majority of the stockholders of Tidel.
Mike Hudson, previously executive vice president and chief operating officer of Tidel Engineering, will lead the new NCR EasyPoint ATM team that includes Tidel's ATM business employees. Because Tidel will retain its other businesses, NCR will initially market this product line as Tidel EasyPoint ATM, a solution of NCR.
Brad Lozier, vice president of product management for NCR's Financial Solutions Division, said, "Tidel has a successful product line and an established distribution focus that fits the retail ATM segment extremely well. NCR is the established world leader in providing self-service ATM solutions. This acquisition allows us to combine Tidel's product line with NCR's financial and global market expertise that will enhance our growth within the retail and convenience ATM segment. It is a win for both teams."
The acquisition will allow for the integration of NCR's existing EasyPoint ATMs with Tidel's 3000 Series product line to deliver the most effective self-service technology for retail ATM deployment. In the United States, NCR will sell Tidel ATM products using a separate sales organization, capitalizing on Tidel's established distribution and product strength in the convenience and retail ATM market segments. NCR will leverage its established global leadership to increase the EasyPoint ATM's product penetration internationally.