|
The
company has held talks with its financial advisers about the
possibility of launching a sale process for the digital banking
unit, the sources said.
Digital banking provides operational software to more than 600
banks and credit unions and sits within NCR's digital commerce
division.
NCR said last September it planned to separate into two publicly
listed companies by the end of 2023: one holding its ATM unit
and the other housing its digital commerce operations, which
provide payments solutions to companies and small businesses.
NCR executives have said that they remained open to selling
parts of the business prior to the split, if it offered better
value to shareholders.
The sources, who requested anonymity because the deliberations
are confidential, cautioned that no decision has been made and
NCR may choose to retain the digital banking unit for its
digital commerce division.
A spokesperson for NCR declined comment.
NCR's digital banking unit was projected to generate about $257
million of earnings before interest, tax, depreciation and
amortization in 2023, according to a research note from Stephens
Inc analysts in September.
Founded in 1884 as the National Cash Register Company, NCR was
bought by AT&T in 1991 for $7.4 billion, before being spun out
of the U.S. wireless carrier at the start of 1997.
The Atlanta-based company's shares have dropped 24% in the last
12 months, giving it a market value of $3.4 billion. NCR had
debt net of cash as of the end of March of more than $5 billion.
(Reporting by Milana Vinn and David French in New York; Editing
by Leslie Adler)
[© 2023 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
