Private Equity Firms Are Making $10 Billion Bid For NCR
Reuters reported Blackstone Group LP and Carlyle Group LP are making a bid in attempt at a leveraged buyout of cash register and ATM manufacturer NCR Corp. The Atlanta Business Chronicle stated, “NCR Corp stock was briefly halted Tuesday afternoon amid a report that two of the world’s largest private equity firms had combined to acquire the metro Atlanta technology company.”
Reuters sources said the bid totals more than $10 billion, and that the auction for the company is several weeks away. The sources also say other private equity firms could make bids for NCR, including Apollo Global Management LLC, Thoma Bravo LLC, or other firms could also make joint bids. Reuters reported the sources requested to remain anonymous and did not receive comments from NCR or the private equity firms.
USA Today reported that following news of the bid on June 16, NCR stock rose 10.71 percent.
The Atlanta Business Chronicle also reported June 16 that NCR, based in Duluth, GA, is “close to announcing plans” to move its suburban Atlanta offices to North Fulton. The company reportedly is in final negotiations with developers for a new facility in Alpharetta. NCR also announced plans last year to move its corporate headquarters from Duluth to Midtown’s Tech Square with the goal of being better positioned to recruit engineering talent from Georgia Tech. The Atlanta Business Chronicle states the relocations are part of NCR’s efforts to advance in the software space.