In a significant corporate move, NCR Corporation (NYSE: NCR) has revealed detailed plans for the separation of its ATM-focused businesses, including Self-Service Banking, Payments & Network, and Telecommunications and Technology sectors. This separation is set to provide a unique opportunity for stockholders and promises a bright future for both NCR Atleos Corporation (formerly NCR Atleos, LLC) and the renamed NCR Voyix Corporation (“Voyix”).

A Game-Changing Decision

NCR Corporation, a pioneer in developing technology platforms for self-directed banking, stores, and restaurants, is taking a bold step towards enhancing its strategic focus. The company, headquartered in Atlanta, Georgia, has been at the forefront of technological innovations in the banking and retail sectors. Now, NCR is gearing up for a transformation that will redefine its future.

Key Dates and What to Expect

Mark your calendars for October 2, 2023, as this is the record date when everything begins to unfold. Stockholders of NCR Corporation will witness an exciting development on October 16, 2023, at 5:00 p.m. local New York City time when the distribution takes place.

Following the distribution, NCR Atleos Corporation will start trading on the NYSE under the ticker “NATL” on October 17, 2023. Meanwhile, NCR Corporation will undergo a renaming to NCR Voyix Corporation (“Voyix”) and will have no ownership stake in Atleos.

Stockholder Benefits

If you’re a stockholder of NCR Corporation, here’s what you can look forward to: a pro rata distribution that ensures you receive one Atleos common stock share for every two shares of NCR Corporation common stock you hold as of the record date. What’s more, this distribution is anticipated to be tax-free for U.S. federal income tax purposes, subject to certain conditions.

This move not only offers stockholders an exciting opportunity but also aligns with NCR Corporation’s commitment to value creation and strategic growth.

A New Dawn for Atleos

After the separation, Atleos will emerge as an independent, publicly-traded entity on the NYSE. This presents an exciting chapter for Atleos, which has a rich history and expertise in ATM-focused businesses, self-service banking, payments, and telecommunications.

Michael D. Hayford, CEO of NCR Corporation, expressed his enthusiasm, stating, “Today’s announcement marks a major milestone in the completion of the separation of Atleos from NCR.” His confidence in both Voyix and Atleos’ future prospects is palpable, underscoring the potential and promise that these two entities hold.

Leadership’s Vision

Tim Oliver, Atleos’ CEO-designate, and David Wilkinson, Voyix’s CEO-designate, also shared their excitement for the upcoming changes. They highlighted the dedication of their respective teams and the promising future for both entities. With a renewed focus, these leaders are committed to driving innovation and delivering value to their stakeholders.

What to Expect Post-Separation

As NCR Atleos Corporation and NCR Voyix Corporation begin their journeys as independent entities, shareholders can anticipate enhanced focus, agility, and innovation. Both companies are poised to leverage their respective strengths and expertise to navigate the ever-evolving landscape of self-service banking, payments, and technology.

Streamlined Operations and Future Growth

The separation will enable NCR Atleos Corporation to concentrate its efforts on expanding its presence in the ATM-focused businesses, self-service banking, and telecommunications sectors. With a clear vision and dedicated resources, Atleos is poised for substantial growth and innovation in its field.

On the other hand, NCR Voyix Corporation (“Voyix”) will embark on a new path, aligning its strategies with the rapidly evolving needs of the retail and restaurant industries. Expect cutting-edge technology solutions and a relentless pursuit of excellence as Voyix sets out to redefine the customer experience.

A Note on Taxes

It’s important to note that the distribution of shares is intended to be tax-free for U.S. federal income tax purposes, provided certain conditions outlined in the Form 10 and the related Information Statement from August 14, 2023, are met. Shareholders are encouraged to consult with their tax advisors to fully understand the tax implications.

Conclusion: A Bold Step into the Future

NCR Corporation’s decision to separate its ATM-focused businesses and create NCR Atleos Corporation and NCR Voyix Corporation marks a pivotal moment in the company’s history. With a legacy of innovation and a commitment to delivering value, these two entities are set to thrive in their respective domains.

As we approach the key dates for this transformation, stockholders, employees, and industry observers alike eagerly await the exciting journey that lies ahead. Stay tuned for further updates as NCR Atleos Corporation and NCR Voyix Corporation set out on their individual paths of growth and innovation in the world of self-service banking, payments, and technology.

NCR Corporation’s vision is clear: a future filled with endless possibilities, innovation, and value creation for all stakeholders.