Press Release
NCR Acquires Leading Cash Cost Optimization Software Company to Accelerate Solutions Strategy
NCR Acquires Leading Cash Cost Optimization Software Company to Accelerate Solutions Strategy
September 7, 2012 at 4:01 PM EDT
Transoft to Help NCR Deliver Unique and Compelling Integrated Cash Management Solution for Banks and Retailers
Transoft manages cash for hundreds of thousands of ATMs,
branches,
vaults and retailers around the world. Its cash cost optimization
software uses complex statistical analysis to help financial
institutions and retailers optimize their cash requirements and reduce
costs associated with cash handling. NCR believes that cash management
represents a
“The addition of Transoft’s solutions and experience will help NCR build
a unique and compelling integrated cash management solution,” said
According to the ATMIA,
cash management accounts for nearly 30 percent of an ATM’s annual
expenses. ATMIA also estimates that effective cash management strategies
can save a financial institution from
“For 18 years, our partnership with NCR has been important to us and, with the current emerging technologies in cash recycling and central bank adaptations, I believe a new era has arrived for our industry. The timing is right for this expanded relationship with NCR,” said Bo H. Holmgreen, president and CEO, Transoft. “NCR’s size and reach will help us further grow our cost optimization solutions through worldwide coverage and support. Coupling our aggressive optimization software strategy and our people with NCR’s elegant hardware solutions makes a lot of sense to our customers and to the market, and we look forward to delivering exciting synergies.”
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Note to Investors
This release contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements use words such as “seek,” “potential,” “expect,” “strive,” “continue,” “continuously,” “accelerate,” and other similar expressions or future or conditional verbs such as “will,” “should,” “would” and “could.” They include statements as to NCR’s anticipated or expected results; future financial performance; projections of revenue, profit growth and other financial items; expectations regarding pension metrics, future contributions and funding obligations, and the economic and other effects thereof; plans with respect to lump sum payment options to be offered to certain pension plan participants and the effects thereof; possible changes in pension accounting policies and the effects thereof, including with respect to recurring pension expense; strategies and intentions regarding NCR’s pension plans; discussion of other strategic initiatives and related actions; comments about future market or industry performance; and beliefs, expectations, intentions, and strategies, among other things.
Forward-looking statements are based on management’s beliefs,
expectations and assumptions and involve a number of known and unknown
risks and uncertainties. Those risks and uncertainties include economic,
business, competitive, market and regulatory conditions and the
following: domestic and global economic and credit conditions; the
financial covenants in our secured credit facility and their impact on
our financial and business operations; our indebtedness and the impact
that it may have on our financial and operating activities and our
ability to incur additional debt; the adequacy of our future cash flows
to service our indebtedness; the variable interest rates borne by our
indebtedness and the effects of changes in those rates; shifts in market
demands, continued competitive factors and pricing pressures; the effect
of currency translation; our ability to achieve targeted cost
reductions; short product cycles, rapidly changing technologies and
maintaining a competitive leadership position with respect to our
solution offerings; tax rates; ability to execute our business and
reengineering plans; turnover of workforce and the ability to attract
and retain skilled employees; availability and successful exploitation
of new acquisition and alliance opportunities; our ability to sell
higher-margin software and services in addition to our hardware; the
timely development, production or acquisition and market acceptance of
new and existing products and services; changes in Generally Accepted
Accounting Principles (GAAP) and the resulting impact, if any, on the
company’s accounting policies; continued efforts to establish and
maintain best-in-class internal information technology and control
systems; market volatility and the funded status of our pension plans;
the success of our pension strategy; compliance with requirements
relating to data privacy and protection; expected benefits related to
acquisitions and alliances, including the acquisition of
Forward-looking statements are not guarantees of future performance.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from those indicated or anticipated by such forward-looking
statements. Accordingly, you are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date
they are made.
Source:
NCR Corporation
Jeff Dudash, 919-435-6976
jeff.dudash@ncr.com