NCR Corporation has announced its intention to separate
into two independent publicly traded companies, through the spin
off of 100% of the company'sTeradata Data Warehousingbusiness to holders of shares of NCR common
stock.
The transaction, expected to be tax-free to NCR and its
shareholders, will enable the two publicly traded companies to
better focus on their distinct customer base, business strategy and
operational needs, said NCR.
Teradata is a leading company in the enterprise datawarehousing
market. NCR remains a leader in automated teller machines (ATMs),
retail self-checkout systems, automated bill payment systems, and
airline, hotel and hospital self-check-in/out kiosks.
Bill Nuti, NCR CEO, said, "This separation is a logical
strategic step for NCR. We believe it will benefit our customers,
business partners, employees and shareholders.
“Teradata and the new NCR operate in different markets each with
solid prospects for the future, but they have markedly different
business models,” said Nuti.
Following the separation, Nuti will serve as president and CEO
of NCR, and Mike Koehler, currently senior vice-president of the
Teradata division, will serve as president and CEO of Teradata.
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