NCRI company (NCR – Free Report) The previously announced acquisition of Miami-based LibertyX, a leading provider of cryptocurrency solutions, recently concluded. The company acquired the private business for an undisclosed amount. The deal includes LibertyX’s cryptocurrency exchange business, LibertyPay.
The acquisition, announced in August 2021, is likely to expand NCR’s capabilities to offer a complete digital currency solution to its customers. The solutions will help its customers to make cross-border payments and transfers as well as buy and sell cryptocurrencies. Also, customers will be able to accept digital currency payments via digital and physical channels.
LibertyX is the first and largest network of Bitcoin Automated Teller Machines (“ATMs”), tellers and kiosks in the United States. Founded in 2013, the company provides a program to operate a nationwide network of bitcoin consumers.
LibertyX currently has 10,000 ATMs and 20,000 store chains across 44 states in the United States. With LibertyX, NCR will use its Pay360 platform, a solution to operate cardless cash transactions, while providing solutions for banks, retailers and restaurants.
Over the past few decades, NCR has been supplementing the growth of its business through acquisitions which in turn helped it enhance its capabilities in various areas. In January 2021, the company acquired Freshop, a grocery e-commerce solutions provider, to enable rapid deployment of online and in-store purchase capabilities to retailers, including regional and small grocery chains.
In February 2021, NCR acquired Terafina, a leading provider of solutions for opening and setting up customer accounts across digital channels, branches and call centers. This expanded the company’s sales and marketing capabilities into its premier digital banking platform.
In June, it completed its purchase of Cardtronics, expanding its payments platform and helping the company connect with retail customers and banks.
In August 2021, NCR signed a definitive agreement to acquire Foremost Business Systems, a Minneapolis-based restaurant and point-of-sale solutions provider.
We believe these acquisitions will continue to contribute to NCR’s growth. However, competition with big players such as Fidelity, Fiserv, HP, Diebold, Nautilus Hyosung, Toshiba Tec and Oracle in the technology industry remains a concern.
Ranking Zacks and Stocks to Consider
NCR currently holds Zacks’ rating at #4 (selling).
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