NCR Corporation NCR recently concluded the previously announced buyout of the Miami-based LibertyX, a leading cryptocurrency solution provider. The company acquired the privately-held business for an undisclosed amount. The deal includes LibertyX’s cryptocurrency remittance business, LibertyPay.
The buyout, announced in August 2021, is likely to expand NCR’s capabilities in offering a complete digital currency solution to its customers. The solutions will aid its clients in conducting cross-border payments and remittances as well as buying and selling cryptocurrency. Also, clients will be able to accept digital currency payments across digital and physical channels.
LibertyX is the first and largest network of bitcoin automated teller machines (“ATMs”), cashiers and kiosks in the United States. Founded in 2013, the company provides software for powering a nationwide network of bitcoin consumers.
Currently, LibertyX has 10,000 ATMs and 20,000 chain stores across 44 states in the United States. With LibertyX, NCR will utilize its Pay360 platform, a solution to power cardless cash transactions, while offering solutions to banks, retailers and restaurants.
Over the past few decades, NCR has been supplementing its business growth via acquisitions which in turn, have helped it in enhancing its capabilities in different areas. In January 2021, the company acquired Freshop, a grocery e-commerce solution provider, to enable faster deployment of buy-online, pickup-in-store capabilities for retailers, including regional and small grocery chains.
In February 2021, NCR acquired Terafina, a leading solution provider for customer account opening and onboarding across digital, branch and call center channels. This expanded the company’s sales and marketing capabilities in its Digital First Banking platform.
In June, it completed the buyout of Cardtronics, which further expanded its payments platform and helped the firm connect to retail and bank customers.
In August 2021, NCR signed a definitive agreement to acquire Foremost Business Systems, a Minneapolis-based point-of-sale and restaurant solutions provider.
NCR Corporation Price and Consensus
NCR Corporation price-consensus-chart | NCR Corporation Quote
We believe that such buyouts will keep contributing to NCR’s growth. However, competition with bigwigs like Fidelity, Fiserv, HP, Diebold, Nautilus Hyosung, Toshiba Tec and Oracle in the technology industry remains a concern.
Zacks Rank & Stocks to Consider
NCR currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader computer and technology sector include the largest global Customer Relationship Management vendor Salesforce CRM and Hewlett Packard HPE, both flaunting a Zacks Rank #1 (Strong Buy), and Advanced Micro Devices AMD carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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