|[January 10, 2014]
NCR Completes Acquisition of Digital Insight
DULUTH, Ga. --(Business Wire)--
Corporation (NYSE: 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 (News - Alert)
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.
About NCR Corporation
NCR Corporation (NYSE: NCR) is the global leader in consumer transaction
technologies, turning everyday interactions with businesses into
exceptional experiences. With its software, hardware, and portfolio of
services, NCR enables more than 450 million transactions daily across
the retail, financial, travel, hospitality, telecom and technology
industries. NCR solutions run the everyday transactions that make your
NCR is headquartered in Duuth, Georgia with over 26,000 employees and
does business in 180 countries. NCR is a trademark of NCR Corporation in
the United States and other countries. NCR encourages investors to visit
its web site which is updated regularly with financial and other
important information about NCR.
Web site: www.ncr.com
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Note to Investors - This news release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements use words such as "seek,"
"potential," "expect," "strive," "continue," "continuously,"
"accelerate," "anticipate," "outlook," "intend," "plan," "target,"
"believe," "estimate," "forecast," "pursue" and other similar
expressions or future or conditional verbs such as "will," "should,"
"would" and "could." They include statements as to NCR's plans for the
businesses of Digital Insight; the strategic fit of Digital Insight with
NCR and its Financial Services line of business, and their effects on
NCR's solutions portfolio; expectations regarding trends in the
financial services industry; comments about future market or industry
performance or behaviors; and beliefs, expectations, intentions, and
strategies, among other things.
Forward-looking statements are based on management's current beliefs,
expectations and assumptions and involve a number of known and unknown
risks and uncertainties, many of which are outside of our control.
Forward-looking statements are not guarantees of future performance, and
there are a number of factors, risks and uncertainties that could cause
actual outcomes and results to differ materially from the results
contemplated by such forward-looking statements. These and other risks,
assumptions and uncertainties are described in our most recent Annual
Report on Form 10-K and in other documents that we file or furnish with
the Securities and Exchange Commission, which you are encouraged to
read. NCR does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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