NCR Acquires StopLift, Gains Powerful Anti-Theft Solution for Self-Checkout
November 06 2018 - 8:00AM
Business Wire
NCR Corporation (NYSE: NCR) today announced that it has acquired
StopLift Checkout Vision Systems, a leader in intelligent computer
vision systems, to combat theft in the retail business. Financial
terms of the transaction were not disclosed.
This transaction reinforces NCR’s strategic focus on
self-checkout solutions that provide the best possible shopper
experience and return on the investment for retailers. NCR will
integrate StopLift’s Artificial Intelligence capabilities that
detect unusual and possibly fraudulent behavior into its retail
store transformation solutions. StopLift’s loss prevention
management features will help NCR address retailers’ concerns over
shrink. NCR is the global leader in self-checkout technology with
more than 250,000 installations worldwide.
“This acquisition will help NCR accelerate growth in our
market-leading self-checkout and store transformation solutions,”
said NCR President and Chief Executive Officer, Michael D. Hayford.
“In addition to creating new value for our retail customers around
the world, StopLift’s fraud detection technology will be a key
enabler of our frictionless commerce product strategy.”
Headquartered in Cambridge, Mass., StopLift has developed
Artificial Intelligence capabilities that visually determine what
occurs during each transaction to distinguish between legitimate
and fraudulent behavior at the checkout. Most notably, StopLift’s
technology detects scan-avoidance and flags unscanned, unpaid
merchandise at the checkout. Examples include passing items around
the scanner, leaving unscanned items in the shopping cart, and
covering up the barcode while scanning.
“We have been working with NCR since 2016 to integrate our
patented technology with SmartAssist, which successfully detects
shrink at the checkout counter with NCR’s self-checkout solutions,”
explained Malay Kundu, founder and CEO of StopLift. “As retailers
are looking to embrace frictionless checkout, our combined
technologies will bring the advantages of loss prevention
management to NCR’s global customer base in this critical time of
retail transformation.”
The two companies anticipate a smooth transition for customers,
channel partners and employees.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in banking and commerce
solutions, powering incredible experiences that make life easier.
With its software, hardware, and portfolio of services, NCR enables
760 million transactions daily across financial, retail,
hospitality, travel, 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.
Website: www.ncr.com
Twitter: @NCRCorporation
Facebook: www.facebook.com/ncrcorp
LinkedIn: www.linkedin.com/company/ncr-corporation
YouTube: www.youtube.com/user/ncrcorporation
About StopLift
StopLift Checkout Vision Systems markets its patented ScanItAll
technology designed to detect and deter shoplifting and employee
theft in retail businesses across the globe. It uses Artificial
Intelligence to analyze and compare security video and POS data to
identify unscanned items at retail and supermarket checkouts. To
date, it has confirmed more than 3.1 million scan avoidance
incidents at manned and self-checkouts around the globe. StopLift
is headquartered in Cambridge, Massachusetts and has an office in
Kolkata, India.
Cautionary Statement Regarding Forward-Looking
Statements
Statements in this announcement regarding the transaction, the
benefits of the 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 potential impact of the transaction on
relationships, including with employees, suppliers and customers of
NCR and StopLift; the ability to achieve the value creation
contemplated by the transaction; and the other factors and
financial, operational and legal risks or uncertainties described
in the NCR’s public filings with the SEC. NCR disclaims any
intention or obligation to update or revise any forward-looking
statements as a result of developments occurring after the date of
this document except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181106005462/en/
NCR Public RelationsNews Media:Tim Henschel,
770-299-5100tim.henschel@ncr.comorNCR CorporationInvestors:Michael
Nelson, 678-808-6995michael.nelson@ncr.comorSherry Alpert Corporate
Communications, LLC for StopLiftSherry Alpert,
617-678-1613sherry@alpert-publicrelations.com
NCR (NYSE:NCR)
Historical Stock Chart
From Aug 2024 to Sep 2024
NCR (NYSE:NCR)
Historical Stock Chart
From Sep 2023 to Sep 2024