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NCR to Buy LibertyX to Add Digital-Currency Software to Digital Wallet, Mobile Apps
The acquisition will make LibertyX capabilities available to banks, restaurants and retailers.
NCR Corporation (NYSE: NCR), one of the world’s largest makers of automated teller machines (ATMs), agreed to acquire cryptocurrency software provider and ATM-network firm LibertyX in an all-stock deal worth $73 million at market close Tuesday.
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- NCR will pay 1.66 million shares for LibertyX, said CFO Tim Oliver on his Tuesday earnings call. The parties had not initially disclosed the terms.
- Atlanta-headquartered NCR said it plans to integrate LibertyX capabilities and make them available to banks, retailers and restaurants through its digital wallet and mobile applications.
- LibertyX’s digital-currency software runs on ATMs, kiosks and point-of-sale partners such as Cardtronics, which owns and manages ATMs in the U.S. at locations such as convenience stores, pharmacies and supermarkets.
- “Due to growing consumer demand, our customers require a complete digital currency solution, including the ability to buy and sell cryptocurrency, conduct cross-border remittance and accept digital currency payments across digital and physical channels,” NCR CTO Tim Vanderham said.
- As reported by CoinDesk last month, the number of crypto ATMs installed globally has increased by more than 70% this year to 24,030.
Read more: Crypto ATM Installations Have Increased Over 70% This Year
UPDATE: August 4, 2021, 10:30 EDT: Transaction details added.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
