The US NCR Corporation has signed a definitive agreement to buy Bitcoin ATM operator LibertyX. Financial terms of the deal are not disclosed.
The purchase is expected to be completed by the end of 2021 after “satisfaction of customary conditions, including regulatory approvals”.
NCR Corporation attributed the agreement to growing demand from customers seeking a comprehensive solution for cryptocurrency transactions. The latter should, among other things, enable cross-border payments.
“Moving forward, NCR will offer the LibertyX capabilities as part of its solutions for banks, retailers and restaurants. NCR’s digital wallet and mobile applications will provide these capabilities across NCR’s physical and digital touchpoints”, says press release.
LibertyX, founded in 2013, operates more than 10,000 Bitcoin ATMs in the US. It supplies software to third-party operators like Cardtronics, which NCR Corporation also acquired in early 2021 for $2.4 billion ( ̴ £1.7 billion).
NCR Corporation specializes in computing technology for the retail, banking, financial services, travel and healthcare industries. The corporation is one of the Fortune 500 companies. Its shares are traded on the NYSE at $44.30 per share, which corresponds to a market capitalization of ~$5.81 billion ( ̴ £4.17 billion).
The total number of cryptocurrency ATMs installed around the world in 2021 grew by more than 70%.
The giant NCR corporation is interested in acquiring a Bitcoin ATM operator. The deal will close by 2021, allowing free payments to be made around the world. The reason for the purchase can be attributed to the high demand for such technology, total number of which has increased significantly in 2021.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
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