The JSE-listed Altron today announced its intention to sell the ATM Hardware and Support Business portion of its Altron Managed Solutions division to NCR.
Altron and NCR have since penned a sale of business agreement in a deal, whose final amount is yet to be determined, but has been capped at around R183 million .“NCR and Altron have a long relationship, dating back more than 40 years.
Commenting on the deal, NCR says: “There is room for global growth as the market for banking solutions constantly evolves. As NCR, we are on the cutting-edge of these developments and our global experience and capabilities will augment this acquisition. For Altron Group chief executive Werner Kapp, the sale aligns with Altron’s 2.0 strategy of maintaining its market leadership in low capital intensity businesses.
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