NCR to take DVD rental kiosks across North America under Blockbuster Express brand
DAYTON, Ohio – NCR Corporation (NYSE: NCR) announced today that it has purchased the remaining equity in TNR Holdings Corp., the second largest DVD kiosk operator in North America, in order to expand the NCR SelfServ™ Entertainment portfolio across North America under the Blockbuster Express brand.
NCR will leverage TNR’s operator skills and retail merchandising experience as it accelerates the installation of state-of-the-art Blockbuster Express branded DVD rental kiosks in retail locations such as supermarkets and convenience stores.
“This acquisition is a major step forward in NCR’s strategy of becoming the leading provider of self-service entertainment solutions and will deliver the best and broadest media offerings to our customers through our partnership with Blockbuster,” said John Bruno, executive vice president, NCR Industry Solutions Group. “As the global leader in self-service solutions, NCR is applying our expertise to the entertainment industry to offer consumers a fast, easy and convenient way to buy and rent movies, music and video games.”
In the fall of 2008, NCR began a strategic alliance with Blockbuster Inc. (NYSE: BBI, BBI.B), a leading global provider of media entertainment, to deploy Blockbuster Express branded DVD rental kiosks in a successful pilot program that was the first step of a national rollout of thousands of units.
NCR purchased the remaining equity in TNR Holdings Corp. from TNR shareholders including MCG Capital Corporation (NASDAQ: MCGC), a leading specialized financial services company and financial advisor. Based in Houston, Texas, TNR operates DVD rental kiosks under the brands MovieCube™ and The New Release™ in supermarkets and grocery stores throughout North America. NCR had been a minority investor in TNR since the summer of 2008. NCR has purchased the remaining equity and debt in TNR for cash considerations. Terms were not disclosed.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a global technology company leading how the world connects, interacts and transacts with business. NCR’s assisted- and self-service solutions and comprehensive support services address the needs of retail, financial, travel, healthcare, hospitality, entertainment, gaming and public sector organizations in more than 100 countries. NCR (www.ncr.com) is headquartered in Dayton, Ohio.
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NCR is a trademark of NCR Corporation in the United States and other countries.
News Media Contact
Jeff Dudash
NCR Corporation
919.900.7435
jeff.dudash@ncr.com
Note to investors - This news release contains forward-looking statements, including statements as to anticipated or expected results, beliefs, opinions and future financial performance, within the meaning of Section 21E of the Securities and Exchange Act of 1934. Forward-looking statements include projections of revenue, profit growth and other financial items, future economic performance and statements concerning analysts’ earnings estimates, among other things. These forward-looking statements are based on current expectations and assumptions and involve risks and uncertainties that could cause NCR’s actual results to differ materially.
In addition to the factors discussed in this release, other risks and uncertainties include those relating to: the uncertain economic climate, in particular the current global credit crisis, could impact the ability of our customers to make capital expenditures, thereby affecting their ability to purchase our products, and consolidation in the financial services sector could impact our business by reducing our customer base; the timely development, production or acquisition and market acceptance of new and existing products and services (such as self-service technologies), including our ability to accelerate market acceptance of new products and services; shifts in market demands, continued competitive factors and pricing pressures and their impact on our ability to improve gross margins and profitability, especially in our more mature offerings; the effect of currency translation; short product cycles, rapidly changing technologies and maintaining a competitive leadership position with respect to our solution offerings; tax rates; ability to execute our business and reengineering plans, including potential impact from our recent transition from a business unit to functional organizational model; turnover of workforce and the ability to attract and retain skilled employees, especially in light of continued cost-control measures being taken by the company; availability and successful exploitation of new acquisition and alliance opportunities; changes in Generally Accepted Accounting Principles (GAAP) and the resulting impact, if any, on the company’s accounting policies; continued efforts to establish and maintain best-in-class internal information technology and control systems; and other factors detailed from time to time in the company’s U.S. Securities and Exchange Commission reports and the company’s annual reports to stockholders. 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.
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