NCR Completes First Phase of Sale of Interactive Printer Solutions Division to Atlas Holdings
NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, today announced that it has completed the first phase of
the previously announced sale of its Interactive Printer Solutions (IPS) division to Atlas Holdings LLC. Going forward, IPS will
operate as a stand-alone portfolio company of Atlas Holdings, and will be called Iconex. Iconex will continue to maintain a
commercial relationship with NCR.
The first phase of the transaction included all dedicated assets of the IPS division, including all manufacturing facilities and
strategically located IPS distribution centers, and the IPS employees, worldwide, other than in the Middle East and Africa (MEA)
region. IPS assets in the MEA region will continue to be operated by NCR while the parties work to satisfy regional closing
conditions. Completion of the transfer of IPS assets in the MEA region is anticipated to occur in the third quarter of 2016.
Financial terms of the transaction were not disclosed.
“The decision to sell our IPS division aligns with our vision to drive growth in software and services,” said Bill Nuti,
Chairman and CEO, NCR Corporation. “NCR is more focused than ever on providing omni-channel solutions that power the infrastructure
behind today’s connected economy.”
SunTrust Robinson Humphrey acted as exclusive financial advisor and Womble Carlyle Sandridge & Rice, LLP acted as lead legal
counsel to NCR on the transaction. Jones Day acted as legal counsel to Atlas Holdings on the transaction.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in omni-channel solutions, turning everyday interactions with businesses into
exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 550 million transactions
daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday
transactions that make your life easier.
NCR is headquartered in Duluth, Georgia with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR
Corporation in the United States and other countries. All other trademarks or registered trademarks are property of their
respective owners.
NCR encourages investors to visit its web site which is updated regularly with financial and other important information about
NCR.
Web site: www.ncr.com
Twitter: @NCRCorporation
Facebook: www.facebook.com/ncrcorp
LinkedIn: http://linkd.in/ncrgroup
YouTube: www.youtube.com/user/ncrcorporation
About Atlas Holdings LLC
Founded in 2002, Atlas Holdings LLC is headquartered in Greenwich, Connecticut. Atlas and its affiliates own 17 companies that
employ approximately 23,000 associates and operate from more than 100 facilities across the globe, generating more than $4 billion
in revenue annually. Atlas companies are engaged in a variety of industries, including steel, paper and tissue, packaging, aluminum
processing, automotive, building materials, capital equipment, construction, energy, industrial services, power generation, and
supply chain management. Visit www.atlasholdingsllc.com for more information.
Note to Investors This release contains forward-looking statements. Forward-looking statements use words such as
“expect,” “anticipate,” “outlook,” “intend,” “believe,” “will,” “should,” “would,” “could” and words of similar meaning. Statements
that describe or relate to NCR’s plans, goals, intentions, strategies or financial outlook, and statements that do not relate to
historical or current fact, are examples of forward-looking statements. Forward-looking statements are based on our current
beliefs, expectations and assumptions, which may not prove to be accurate, and involve a number of known and unknown risks and
uncertainties, many of which are out of NCR's control. Forward-looking statements are not guarantees of future performance, and
there are a number of important factors that could cause actual outcomes and results to differ materially from the results
contemplated by such forward-looking statements, including those factors relating to: the successful closing of the sale of the
remaining assets of the IPS division and achievement of potential benefits from the divestiture; domestic and global economic and
credit conditions including, in particular, market conditions and spending trends in the financial services industry, fluctuations
in oil and commodity prices and their effects on local, regional and global market conditions, and economic and market conditions
in Russia, China and emerging markets; the impact of our indebtedness and its terms on our financial and operating activities; the
impact of the terms of our strategic relationship with Blackstone and our Series A Convertible Preferred Stock; foreign currency
fluctuations; our ability to successfully introduce new solutions and compete in the information technology industry; the
transformation of our business model and our ability to sell higher-margin software and services; our ability to improve execution
in our sales and services organizations; defects or errors in our products or problems with our hosting facilities; compliance with
data privacy and protection requirements; manufacturing disruptions; collectability difficulties in subcontracting relationships in
Emerging Industries; the historical seasonality of our sales; the availability and success of acquisitions, divestitures and
alliances; our pension strategy and underfunded pension obligation; the success of our ongoing restructuring plan; tax rates;
reliance on third party suppliers; development and protection of intellectual property; workforce turnover and the ability to
attract and retain skilled employees; environmental exposures from our historical and ongoing manufacturing activities; and
uncertainties with regard to regulations, lawsuits, claims and other matters across various jurisdictions. Additional information
concerning these and other factors can be found in the Company's filings with the U.S. Securities and Exchange Commission,
including the Company’s most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Any
forward-looking statement speaks only as of the date on which it is made. The Company does not undertake any obligation to publicly
update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
News Media Contact
NCR Corporation
Scott Sykes, 212-589-8428
scott.sykes@ncr.com
or
Investor Contact
NCR Corporation
Gavin Bell, 212-589-8468
gavin.bell@ncr.com
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