Digital Commerce Business to Become NCR
Voyix; ATM Business to Become NCR Atleos, Both Reflecting Strength
of NCR Brand
NCR Corporation (NYSE: NCR), a leading enterprise
technology provider, today unveiled the names for the two companies
that will form after its planned separation, expected in the fourth
quarter of 2023. Selecting company names is a key milestone in
NCR’s previously announced plan to separate into two independent,
publicly traded companies.
“The digital commerce business will be called NCR Voyix, which
is a nod to the ever-present vision, innovation and partnership
that NCR offers its customers as we work with them in their voyage
to succeed,” said NCR CEO Michael D. Hayford. “NCR Voyix will
leverage NCR’s industry-leading software to continue transforming,
connecting and running global retail, hospitality and digital
banking technology platforms.”
In speaking with thousands of stakeholders to finalize each
company’s name, it became clear that "NCR" is a proven badge of
experience and service that customers, industry analysts, and
employees encouraged NCR to retain. For the digital commerce
company, the "Voyix" name demonstrates the concept of a voyage,
which is how customers describe their journeys with NCR. The
company is with them every step of the way, ever-present to unify
technologies and guide customers toward their visions. The
inclusion of "x" is purposeful — representing the actionable
insights delivered to customers and the visual manifestation of the
company’s ability to “link” the digital and physical worlds.
“The new name for the ATM business, NCR Atleos, reflects the
strength of the NCR brand and our success in helping banks and
retailers create best-in-class solutions, within and beyond the
branch or across their map of expansive networks,” Hayford said.
“This business will build on NCR’s leadership in solutions that
enable customers to meet global demand for ATM access while
leveraging new ATM transaction types, including digital currency
solutions, to drive market growth.”
As with NCR Voyix, constituents surveyed encouraged the company
to retain the NCR name in some way. "Atleos," for an atlas or map,
speaks to the company’s focus on expanding transactions and access
worldwide. "At" also nods to the company’s past and present history
with automated tellers, which combined with “eos,” or the dawn of a
new era, speaks to NCR’s drive to scale ATM as a Service (ATMaaS),
interactive tellers and future innovations.
NCR conducted a thorough naming process with global consultancy
Interbrand that included surveys, research and the engagement of
thousands of stakeholders including employees, customers, investors
and industry analysts.
“We took the responsibility of renaming a company with more than
130 years of history very seriously,” said CMO Jennifer Personette.
“The strength of both brands, which build on our existing positive
brand value, is evident in the recent momentum of the business and
customer feedback. I am also proud that we chose names through a
process that included feedback from 12,000 employees who expressed
their pride in NCR.”
Previously, the company’s Board of Directors announced that
current NCR Senior Executive Vice President and Chief Financial
Officer Tim Oliver is designated as CEO of NCR Atleos and David
Wilkinson, executive vice president and president of NCR Commerce,
is designated to lead NCR Voyix.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in transforming,
connecting and running technology platforms for self-directed
banking, stores and restaurants. NCR is headquartered in Atlanta,
Georgia, with 35,000 employees globally. 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 Statements
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 (the “Act”). Forward-looking
statements use words such as “expect,” “anticipate,” “outlook,”
“intend,” “plan,” “confident,” “believe,” “will,” “should,”
“would,” “potential,” “positioning,” “proposed,” “objective,”
“could,” “may,” and words of similar meaning, as well as other
words or expressions referencing future events, conditions or
circumstances. We intend these forward-looking statements to be
covered by the safe harbor provisions for forward-looking
statements contained in the Act. Statements that describe or relate
to NCR’s plans, goals, intentions, strategies, or financial
outlook, and statements that do not relate to historical or current
fact, are examples of forward-looking statements. Examples of
forward-looking statements in this release include, without
limitation, statements regarding the proposed separation of NCR
into two separate companies, including, but not limited to,
statements regarding the anticipated timing and structure of such
proposed transaction, the future commercial performance of the
digital commerce company or the ATM company following such proposed
transaction, and value creation and ability to innovate and drive
growth generally as a result of such transaction. Forward-looking
statements are based on our current beliefs, expectations and
assumptions, which may not prove to be accurate, and involve a
number of known and unknown risks and uncertainties, many of which
are out of NCR’s control. Forward-looking statements are not
guarantees of future performance, and there are a number of
important factors that could cause actual outcomes and results to
differ materially from the results contemplated by such
forward-looking statements, including those factors relating
to:
- Strategy and Technology: transforming our business model;
development and introduction of new solutions; competition in the
technology industry; integration of acquisitions and management of
alliance activities; our multinational operations
- Business Operations: domestic and global economic and credit
conditions; risks and uncertainties from the payments-related
business and industry; disruptions in our data center hosting and
public cloud facilities; retention and attraction of key employees;
defects, errors, installation difficulties or development delays;
failure of third-party suppliers; the impact of the coronavirus
(COVID-19) pandemic, a major natural disaster or catastrophic event
and geopolitical and macroeconomic challenges; environmental
exposures from historical and ongoing manufacturing activities; and
climate change
- Data Privacy & Security: impact of data protection,
cybersecurity and data privacy including any related issues
- Finance and Accounting: our level of indebtedness; the terms
governing our indebtedness; incurrence of additional debt or
similar liabilities or obligations; access or renewal of financing
sources; our cash flow sufficiency to service our indebtedness;
interest rate risks; the terms governing our trade receivables
facility; the impact of certain changes in control relating to
acceleration of our indebtedness, our obligations under other
financing arrangements, or required repurchase of our senior
unsecured notes; any lowering or withdrawal of the ratings assigned
to our debt securities by rating agencies; our pension liabilities;
and write down of the value of certain significant assets
- Law and Compliance: protection of our intellectual property;
changes to our tax rates and additional income tax liabilities;
uncertainties regarding regulations, lawsuits and other related
matters; and changes to cryptocurrency regulations
- Governance: impact of the terms of our Series A Convertible
Preferred (“Series A”) Stock relating to voting power, share
dilution and market price of our common stock; rights, preferences
and privileges of Series A stockholders compared to the rights of
our common stockholders; and actions or proposals from stockholders
that do not align with our business strategies or the interests of
our other stockholders
- Proposed Separation: an unexpected failure to complete, or
unexpected delays in completing, the necessary actions for the
proposed separation, or to obtain the necessary approvals to
complete these actions; that the potential strategic benefits,
synergies or opportunities expected from the separation may not be
realized or may take longer to realize than expected; costs of
implementation of the separation and any changes to the
configuration of businesses included in the separation if
implemented; the potential inability to access or reduced access to
the capital markets or increased cost of borrowings, including as a
result of a credit rating downgrade; the potential adverse
reactions to the proposed separation by customers, suppliers,
strategic partners or key personnel and potential difficulties in
maintaining relationships with such persons and risks associated
with third party contracts containing consent, including such third
parties using it as an opportunity to achieve contractual
concessions or other commitments less favorable to the ATM company,
and/or other provisions that may be triggered by the proposed
separation; the risk that any newly formed entity to house the
digital commerce or ATM business would have no credit rating and
may not have access to the capital markets on acceptable terms;
unforeseen tax liabilities or changes in tax law; requests or
requirements of governmental authorities related to certain
existing liabilities; and the ability to obtain or consummate
financing or refinancing related to the transaction upon acceptable
terms or at all.
Should one or more of these risks or uncertainties materialize,
or should underlying assumptions prove incorrect, actual results
may vary materially from those set forth in the forward-looking
statements. There can be no guarantee that the proposed separation
will be completed in the expected form or within the expected time
frame or at all. Nor can there be any guarantee that the digital
commerce business and ATM business after a separation will be able
to realize any of the potential strategic benefits, synergies or
opportunities as a result of these actions. Neither can there be
any guarantee that shareholders will achieve any particular level
of shareholder returns. Nor can there be any guarantee that the
proposed separation will maximize value for shareholders, or that
NCR or any of its divisions, or separate digital commerce and ATM
business, will be commercially successful in the future, or achieve
any particular credit rating or financial results.
Additional information concerning these and other factors can be
found in the Company’s filings with the U.S. Securities and
Exchange Commission, including the Company’s most recent annual
report on Form 10-K, quarterly reports on Form 10-Q and current
reports on Form 8-K. Any forward-looking statement speaks only as
of the date on which it is made. The Company does not undertake any
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230724388936/en/
Investor Contact Michael Nelson NCR Corporation
678-808-6995 michael.nelson@ncr.com
Media Contact Scott Sykes NCR Corporation
scott.sykes@ncr.com
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