NCR
Corporation (NYSE: NCR) and Banco Bradesco (NYSE: BBD) today
announced a definitive agreement for NCR to buy the minority interest
that Bradesco indirectly owns in NCR Manaus, NCR’s Brazilian
manufacturing and engineering entity. Financial details of the
transaction were not disclosed.
“We are pleased to continue our partnership with our valued customer
Banco Bradesco,” said NCR President and Chief Executive Officer Michael
D. Hayford. “At the same time, we look forward to applying our
manufacturing and engineering operations in Manaus to more broadly serve
our financial customers in Brazil and build on our 83 years of
experience in the country.”
NCR will continue to work with Bradesco to provide ATM solutions. NCR
opened its manufacturing facility in Manaus in 2009 to respond to the
need for local sourcing and better serve its customers in Brazil.
This agreement complements NCR’s recently announced initiative to expand
its service and solution footprint in Brazil.
“We greatly value our close partnership with NCR,” said Mauricio Minas,
Board Member of Bradesco. “Other than the change of equity ownership
that occurs with this transaction, we do not anticipate there will be
any other significant changes in the way we continue to work together
going forward.”
The transaction is subject to regulatory approval and other customary
closing conditions.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leading software- and services-led
enterprise provider in the financial, retail, hospitality, telecom and
technology industries. NCR is headquartered in Atlanta, Ga., with 34,000
employees and does business in 180 countries. NCR is a trademark of NCR
Corporation in the United States and other countries.
Web site: www.ncr.com
Twitter:
@NCRCorporation
Facebook:
www.facebook.com/ncrcorp
LinkedIn:
www.linkedin.com/company/ncr-corporation
YouTube:
www.youtube.com/user/ncrcorporation
Cautionary Statement Regarding Forward-Looking Statements
Statements in this announcement regarding the proposed transaction, the
expected timetable for completing the proposed transaction, future
financial and operating results, future capital structure and liquidity,
benefits of the proposed transaction, general business outlook and any
other statements about the future expectations, beliefs, goals, plans or
prospects of the board or management of NCR constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Any statements that are not statements of historical
fact (including statements containing the words “expects,” “intends,”
“anticipates,” “estimates,” “predicts,” “believes,” “should,”
“potential,” “may,” “forecast,” “objective,” “plan,” or “targets” and
other similar expressions) are intended to identify forward-looking
statements. There are a number of factors that could cause actual
results or events to differ materially from those indicated by such
forward-looking statements, including: the ability to obtain requisite
regulatory approvals; the potential impact of the announcement or
consummation of the proposed transaction on relationships, including
with employees, suppliers and customers; the ability to achieve the
value creation contemplated by the proposed transaction; and the other
factors and financial, operational and legal risks or uncertainties
described in the NCR’s public filings with the SEC.
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