NCR to buy ATM operator Cardtronics for $1.73 billion

(Reuters) – NCR Corporation, a technology provider for the financial, retail and hospitality industries, said on Monday it has offered to buy non-bank ATM operator Cardtronics Plc for about $1.73 billion in cash.

NCR’s offer comes weeks after Cardtronics said it had agreed to be bought by funds managed by affiliates of private equity firm Apollo Global Management and Hudson Executive Capital LP for $35 per share in cash.

NCR has offered to buy all outstanding shares of Cardtronics for $39 per share in cash, representing a discount of about 5% to Cardtronics’ share close of Friday.

Cardtronics’ debit network combined with NCR’s payments platform will enable the company to connect their retail and bank customers, NCR Chief Executive Officer Michael Hayford said.

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