NCR Atleos and NCR Voyix on track to become independent companies after close of business on October 16, 2023
ATLANTA, October 11, 2023 – NCR Corporation (NYSE: NCR), a leading enterprise technology provider, today announced the members of the boards of directors for NCR Atleos (“Atleos”) and NCR Voyix (“Voyix”) following the planned separation. This marks one of the final steps in the process to separate into two independent, publicly traded companies. Assuming completion of the separation, effective October 17, 2023, the new corporations will initiate trading under stock symbols, (NYSE: NATL) for Atleos and (NYSE: VYX) for Voyix.
The board of directors for Atleos will be comprised of executives across the banking and financial industries. Joseph E. Reece, currently board chairman of NCR, will serve as board chairman for Atleos.
“Following my work with NCR Corporation, I am honored to be selected as board chairman for Atleos,” said Reece. “I am confident that it will remain a clear leader in creating, designing and accelerating self-directed banking solutions for global customers and I am committed to helping successfully launch the independent company.”
The board of directors for Voyix will hold a wealth of experience across the digital commerce solutions category. James G. Kelly will serve as its board chairman.
Kelly served as Chief Executive Officer of EVO Payments and a member of its board of directors from May 2018 through its successful acquisition by Global Payments, Inc. in March 2023.
“I’m truly honored to serve as the chairman of Voyix, a proven leader in software management systems and digital banking,” said Kelly. “This transaction will permit the investment of greater resources and focus on expanding the capabilities and reach of our market-leading solutions to enhance our customer experience and drive greater shareholder value.”
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in transforming, connecting and running technology platforms for self-directed banking, stores and restaurants. NCR is headquartered in Atlanta, Georgia, with 35,000 employees globally. NCR is a trademark of NCR Corporation in the United States and other countries.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the “Act”). Forward-looking statements use words such as “expect,” “anticipate,” “outlook,” “intend,” “plan,” “confident,” “believe,” “will,” “should,” “would,” “potential,” “positioning,” “proposed,” “planned,” “objective,” “likely,” “could,” “may,” and words of similar meaning, as well as other words or expressions referencing future events, conditions or circumstances. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Act. Statements that describe or relate to NCR Corporation’s (“NCR”) plans, goals, intentions, strategies, or financial outlook, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Examples of forward-looking statements in this release include, without limitation, statements regarding the proposed separation of NCR into two separate companies, including, but not limited to, statements regarding the anticipated timing and structure of such proposed transaction, the future commercial performance of Voyix or Atleos (or their respective businesses) following such proposed transaction, and value creation and ability to innovate and drive growth generally as a result of such transaction as well as statements regarding the intended future executive management teams of both companies. 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:
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that the planned separation will be completed in the expected form or within the expected time frame or at all. In addition, NCR’s Board of Directors may change the record date for the distribution, or postpone or terminate the distribution, in its sole discretion. Nor can there be any guarantee that Voyix or Atleos (or their respective businesses) after a separation will be able to realize any of the potential strategic benefits, synergies or opportunities as a result of these actions. Neither can there be any guarantee that stockholders will achieve any particular level of stockholder returns. Nor can there be any guarantee that the planned separation will maximize value for stockholders, or that Voyix or any of its divisions, or separate commerce and ATM business, will be commercially successful in the future, or achieve any particular credit rating or financial results.
Additional information concerning these and other factors can be found in NCR’s filings with the U.S. Securities and Exchange Commission, including NCR’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. NCR 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, except as required by law.