Virginia-based cash handling company The Brink’s Company (Brink’s), has agreed to acquire NCR Atleos in a deal valued at around $6.6 billion.
The deal will combine Brink’s global cash management expertise with NCR Atleos’ ATM management and services as well as its ATM network and ATM-as-a-Service (ATMaaS) solutions. Adding NCR Atleos’ capabilities will allow Brink’s to offer complementary products, services, and software that provide banks and retail customers with an even broader variety of cash management solutions.
“This acquisition further supports Brink’s ability to deliver enhanced customer solutions and accelerates our value creation strategy,” said Brink’s President and Chief Executive Officer Mark Eubanks. “NCR Atleos is a partner we know well, and our business cultures are closely aligned around customer success, continuous improvement, and managing the interface between physical to digital payments to enable ease of cash acceptance and use. By combining our organizations, we gain critical scale and complementary, integrated capabilities to drive our ambitious growth strategy and provide new levels of service to our global customer base.”
Founded as NCR Corporation in 1881, the firm spun out NCR Atleos in October of 2023 to run as an independent company focused on ATMs. Today, NCR Atleos has an installed base of approximately 600,000 ATMs, 78,000 of which it owns and operates in high traffic retail locations. Headquartered in Atlanta, Georgia, NCR Atleos employs 20,000 people across the globe to facilitate hardware, software, and service for its line of ATM-related technology.
This is a massive win for Brink’s, and not simply because it is buying up one of the oldest firms in financial services. The acquisition offers the company a greater geographic footprint, tapping NCR Atleos’ client base located across more than 140 countries. Adding NCR Atleos’ ATM software, services, and installed ATMs to its own armored transport services will enable Brink’s to offer a more holistic and vertically integrated set of services and products.
Once combined, Brink’s anticipates it will generate approximately $10 billion in total revenue.
“This transaction represents a strategic opportunity for NCR Atleos,” said NCR Atleos CEO Tim Oliver. “The extraordinary efforts of the NCR Atleos team over the two years since our separation from legacy NCR have strengthened our leading ATM installed base, sustained best-in-class service levels and introduced innovative products. Combining the complementary service-led businesses of Brink’s and NCR Atleos will enable us to enhance offerings to financial institutions and retailers, and create more opportunities for our employees.”
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