Banking Fintech News

NCR Announces Acquisition of Edge Virtualization Technology Provider Zynstra

NCR and Cardtronics Announce Definitive Acquisition Agreement at $39.00 Per Share

NCR Corporation , a global enterprise technology company for the retail, hospitality and banking industries, announced the acquisition of UK-based Zynstra, a provider of edge virtualization technology.

NCR and Zynstra have worked together for several years, reflected in the launch of NCR Software Defined Store introduced in January 2019 and in use by companies like Pilot Flying J. This unique, subscription-based virtualization solution is one of the critical pillars of NCR’s next-generation store architecture for the retail and hospitality industries.

Read More: Arcline Investment Management to Acquire Fairbanks Morse, an EnPro Industries Company

By virtualizing back and front office technology, businesses can realize significant hardware cost savings and enterprise technology management can be much more cost effective. For example, with a simple swipe of the screen a device can change from a POS terminal to an inventory management console.

“This acquisition is another demonstration of our strategy to acquire new companies to enhance product capabilities and extend our leadership in the vertical industries we serve,” said NCR President and Chief Executive Officer Michael D. Hayford. “The addition of Zynstra’s virtualization technology to our software stack gives NCR even more solutions to help our customers run their store or restaurant end-to-end.”

A recent Total Economic Impact study commissioned by NCR and conducted by Forrester Research of NCR Software Defined Store customers found that an average organization with approximately 750 retail stores could see a 164 percent return on investment through store virtualization.

“At Zynstra, we’ve built a world-class capability that we know can make a significant difference for our clients,” said Nick East, chief executive officer, Zynstra. “When we started to work with NCR, we realized that our combined strengths made for an unmatched service, with a global reach. I am personally very excited about what it means for our customers and our team and am looking forward to leading the acceleration of our vision for the market.”

Read More: Kimbell Royalty Partners, LP Closes Mineral and Royalty Acquisition from Buckhorn Resources

“We’ve worked closely with the NCR and Zynstra teams and have first-hand experience of their complementary technology and ability to deliver together,” said Mike Rodgers, chief information officer, Pilot Flying J. “Software Defined Store is strategic for us, virtualizes all our in-store systems and is delivering a great return on investment. This combination makes sense and we’re excited about what’s coming.”

NCR’s solutions help businesses compete in an evolving landscape of physical and digital consumers by providing advisory and consulting services, hardware/software, payments, support and managed services. Retailers can see the benefits of edge virtualization technology and NCR’s next-generation store architecture first hand in booth #4619 at NRF’s BIG Show 2020, January 12-14, 2020.

NCR purchased Zynstra for approximately 100 Million British Pound Sterling. The acquisition is expected to be slightly dilutive to earnings per share in 2020.

Read More: The Timken Company Celebrates 120th Anniversary by Ringing NYSE Closing Bell

Related posts

Cobra Payday Loans – Your Trusted Partner in Times of Financial Needs

Fintech News Desk

Baanx Has Received FCA Approval to Undertake Cryptoasset Activities

Fintech Staff Writer

Intuit and Credit Karma Receive Clearance from Department of Justice for Acquisition of Credit Karma

Fintech News Desk