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Fortune 500 company NCR to acquire Bitcoin ATM operator LibertyX

fortune-500-company-ncr-to-acquire-bitcoin-atm-operator-libertyx

The cryptocurrency market continues to garner interest, especially from traditional companies.

NCR to acquire LibertyX

LibertyX, one of the leading Bitcoin ATM operators in the world, is set to be acquired by NCR, a Fortune 500 company. NCR announced yesterday that it had signed an agreement to acquire LibertyX.

In a blog post yesterday, NCR, an enterprise software company, stated that the agreement is at $39 per share. The blog post said the two companies “have entered into a definitive agreement under which NCR will acquire all outstanding shares of Cardtronics for $39.00 per share in an all-cash transaction with an enterprise value of approximately $2.5 billion, including debt.”

The deal is expected to be concluded later this year. However, it is still subject to customary closing conditions, including regulatory approvals. LibertyX co-founder and CEO Chris Yim are excited with this latest development, and he stated that this is the first acquisition by any company, public or private, of a bitcoin ATM operator.

NCR looking to establish a presence in the cryptocurrency space

The acquisition of LibertyX is expected to expand NCR’s presence in the crypto space. NCR’s chief technology officer Tim Vanderham noted that LibertyX’s acquisition is designed to help the company’s customers provide cryptocurrency solutions, including the ability to purchase and sell cryptos, process cross-border remittances and accept cryptocurrency payments via digital and physical channels.

LibertyX operates more than 10,000 Bitcoin ATMs across the United States. It also operates kiosks and point-of-sale systems.

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