NCR Corp. NCR, +0.90% announced Monday morning that it has reached a definitive agreement with Cardtronics CATM, -5.87% to acquire the ATM operator for $39 a share. The all-cash transaction is valued at about $2.5 billion, including debt. The deal for Cardtronics “further shifts NCR’s revenue mix to software, services and recurring revenue, and adds value for our customers,” NCR Chief Executive Michael Hayford said in a release. NCR expects the deal to close in the middle of 2021 and anticipates that it will be accretive to its earnings per share in the first full year following the close. It models $100 million to $120 million in run-rate operating cost synergies by the end of 2022. NCR previously confirmed that it had made a $39/share offer for Cardtronics earlier in January. Shares of Cardtronics, which closed Friday at $40.86, are off 6.3% in premarket trading Monday, while NCR shares are up 4.8% premarket. NCR’s stock has gained 50% over the past three months as the S&P 500 SPX, -0.52% has risen 11%.
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