NCR, a software- and services-led enterprise provider in the financial, retail and hospitality sectors, is set to acquire the cryptocurrency software maker LibertyX.
The Georgia-based company said in a news release Monday (Aug. 2) it had signed a definitive agreement to acquire LibertyX in hopes of offering customers the ability to make quick and easy digital currency payments.
“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 Corporation Chief Technology Officer Tim Vanderham said in a statement. “The LibertyX solution will accelerate our ability to rapidly deliver these capabilities to the market.”
Software from LibertyX runs on ATMs, kiosks and point-of-sale systems. LibertyX works with independent operators such as Cardtronics, who own and manage ATMs like the ones found at convenience stores, supermarkets and pharmacies.
NCR acquired Cardtronics earlier this year for $2.5 billion. Michael D. Hayford, president and CEO of NCR, said earlier this year that the deal stems from an existing relationship with Cardtronics, and called its no-surcharge Allpoint network “highly complementary to NCR’s payments platform.” The combined company aims to facilitate easier connections between retail and banking customers.
With this latest acquisition, NCR plans to offer LibertyX’s capabilities to banks, retailers and restaurants through its digital wallet and mobile applications.
“NCR is an industry leader in banking, retail and hospitality, and has a tremendous customer base across our growth markets,” said LibertyX Co-Founder and CEO Chris Yim. “We look forward to offering NCR’s customers the ability to quickly and easily offer the digital payments and cryptocurrency capabilities consumers want, while significantly expanding the scope, scale and reach of our software.”
Financial terms of the deal were not released. The acquisition is set to close later in 2021, subject to customary closing conditions, including regulatory licensing consents and approvals.