News : NCR Completes First Phase of Sale of Interactive Printer Solutions Division to Atlas Holdings
Duluth, GA, USA, May 27, 2016 -- NCR Corporation (NYSE: NCR), a global provider in omni-channel solutions, announced that it has completed the first phase of the previously announced sale of its Interactive Printer Solutions (IPS) division to Atlas Holdings LLC. Going forward, IPS will operate as a stand-alone portfolio company of Atlas Holdings, and will be called Iconex. Iconex will continue to maintain a commercial relationship with NCR.
The first phase of the transaction included all dedicated assets of the IPS division, including all manufacturing facilities and strategically located IPS distribution centers, and the IPS employees, worldwide, other than in the Middle East and Africa (MEA) region. IPS assets in the MEA region will continue to be operated by NCR while the parties work to satisfy regional closing conditions. Completion of the transfer of IPS assets in the MEA region is anticipated to occur in the third quarter of 2016. Financial terms of the transaction were not disclosed.
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"The decision to sell our IPS division aligns with our vision to drive growth in software and services," said Bill Nuti, Chairman and CEO, NCR Corporation. "NCR is more focused than ever on providing omni-channel solutions that power the infrastructure behind today’s connected economy."
Posted by Veronica Silva Cusi, news correspondent
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About NCR Corporation:
NCR Corporation a provider of consumer transaction technologies, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 550 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier. NCR is headquartered in Duluth, Georgia with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.
Published: Monday, May 30, 2016