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NCR Completes Sale of Remaining Interactive Printer Solutions Division Assets to Group Led by Turbon AG
Duluth, Ga., December 21, 2017 -- NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, today announced it has completed the sale of all dedicated assets of its former Interactive Printer Solutions (IPS) division located in the Middle East and Africa (MEA) region to Interactive Printer Solutions FZCO (IPS FZCO), a member of the Turbon Group of Companies. Financial terms of the transaction were not disclosed.
The transaction includes NCR’s IPS manufacturing facility in the Jebel Ali Free Zone in Dubai, strategically located IPS distribution centers, and IPS employees, in the MEA region. IPS FZCO will continue to maintain a commercial relationship with NCR following the transaction.
The transaction completes the final phase of the previously-announced sale of NCR’s IPS division. NCR completed the first phase of that sale to Atlas Holdings LLC last year.
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 nearly 700 million transactions daily across the financial, retail, hospitality, travel, telecom and technology industries. NCR solutions run the everyday transactions that make your life easier. NCR is headquartered in Duluth, Ga., with about 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries. NCR encourages investors to visit its website which is updated regularly with financial and other important information about NCR.
About Turbon AG / IPS FZCO
Turbon AG is a leading worldwide manufacturer and distributor of compatible laser toner supplies and an established provider of printer maintenance services. The Turbon Group of companies has over forty years’ experience in the design and manufacture of imaging supplies and is listed on the Frankfurt Stock Exchange (TUR:FRA).
A new company IPS FZCO has been established by Hattingen, Germany based Turbon AG, in conjunction with two investors who are both former NCR senior managers, Shankar Ganapathi and Simon McCouaig. IPS FZCO’s MEA regional leadership in the Financial, Retail and Hospitality markets with thermal receipts, tickets and cheque solutions will be complemented by Turbon’s laser product offering, including such brands as IBM and AGFAPHOTO in addition to a solution portfolio of managed print services (MPS) and managed document services (MDS).
Note to Investors: This release contains forward-looking statements. Forward-looking statements use words such as “expect,” “anticipate,” “outlook,” “intend,” “plan,” “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. 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.