Digital Commerce Business to Become NCR Voyix; ATM Business to Become NCR Atleos, Both Reflecting Strength of NCR Brand
ATLANTA – July 24, 2023 – NCR Corporation (NYSE: NCR), a leading enterprise technology provider, today unveiled the names for the two companies that will form after its planned separation, expected in the fourth quarter of 2023. Selecting company names is a key milestone in NCR’s previously announced plan to separate into two independent, publicly traded companies.
“The digital commerce business will be called NCR Voyix, which is a nod to the ever-present vision, innovation and partnership that NCR offers its customers as we work with them in their voyage to succeed,” said NCR CEO Michael D. Hayford. “NCR Voyix will leverage NCR’s industry-leading software to continue transforming, connecting and running global retail, hospitality and digital banking technology platforms.”
In speaking with thousands of stakeholders to finalize each company’s name, it became clear that "NCR" is a proven badge of experience and service that customers, industry analysts, and employees encouraged NCR to retain. For the digital commerce company, the "Voyix" name demonstrates the concept of a voyage, which is how customers describe their journeys with NCR. The company is with them every step of the way, ever-present to unify technologies and guide customers toward their visions. The inclusion of "x" is purposeful — representing the actionable insights delivered to customers and the visual manifestation of the company’s ability to “link” the digital and physical worlds.
“The new name for the ATM business, NCR Atleos, reflects the strength of the NCR brand and our success in helping banks and retailers create best-in-class solutions, within and beyond the branch or across their map of expansive networks,” Hayford said. “This business will build on NCR’s leadership in solutions that enable customers to meet global demand for ATM access while leveraging new ATM transaction types, including digital currency solutions, to drive market growth.”
As with NCR Voyix, constituents surveyed encouraged the company to retain the NCR name in some way. "Atleos," for an atlas or map, speaks to the company’s focus on expanding transactions and access worldwide. "At" also nods to the company’s past and present history with automated tellers, which combined with “eos,” or the dawn of a new era, speaks to NCR’s drive to scale ATM as a Service (ATMaaS), interactive tellers and future innovations.
NCR conducted a thorough naming process with global consultancy Interbrand that included surveys, research and the engagement of thousands of stakeholders including employees, customers, investors and industry analysts.
“We took the responsibility of renaming a company with more than 130 years of history very seriously,” said CMO Jennifer Personette. “The strength of both brands, which build on our existing positive brand value, is evident in the recent momentum of the business and customer feedback. I am also proud that we chose names through a process that included feedback from 12,000 employees who expressed their pride in NCR.”
Previously, the company’s Board of Directors announced that current NCR Senior Executive Vice President and Chief Financial Officer Tim Oliver is designated as CEO of NCR Atleos and David Wilkinson, executive vice president and president of NCR Commerce, is designated to lead NCR Voyix.
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,” “objective,” “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’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. 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 the digital commerce company or the ATM company following such proposed transaction, and value creation and ability to innovate and drive growth generally as a result of such transaction. 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 proposed separation will be completed in the expected form or within the expected time frame or at all. Nor can there be any guarantee that the digital commerce business and ATM business 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 shareholders will achieve any particular level of shareholder returns. Nor can there be any guarantee that the proposed separation will maximize value for shareholders, or that NCR or any of its divisions, or separate digital 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 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, except as required by law.