NCR Corp. is in talks to buy Cardtronics PLC , according to people familiar with the matter, seeking to snatch it away from a pair of investment firm
NCR Corp. is in talks to buy Cardtronics PLC , according to people familiar with the matter, seeking to snatch it away from a pair of investment firms including private-equity giant Apollo Global Management Inc . that earlier agreed to buy the ATM operator.
Cardtronics said Thursday it had received an unsolicited bid worth $39 a share and that it had entered into discussions with the suitor, which it didn’t name. The new bidder is NCR, the people said.
The move sets up a potential bidding war for a company that operates 285,000 ATMs in 10 countries, according to its website.
Houston-based Cardtronics on Dec. 15 announced a deal to be sold to Apollo and investment firm Hudson Executive Capital LP for $35 a share. Hudson Executive owns a roughly 19% stake in Cardtronics. Its founder, former JPMorgan Chase & Co . finance chief Douglas Braunstein, sits on its board and has recused himself from sale discussions, the company has said.
Atlanta-based NCR, formerly known as National Cash Register and once owned by AT&T Inc . , makes ATMs as well as point-of-sale systems and self-service kiosks for businesses such as retailers and restaurants. Similar to other hardware makers, it has been pivoting its business toward software sales and other recurring services.