Duluth-based NCR Corp., the maker of ATMs, cash registers and other financial technologies, said Monday it has an agreement to purchase California-based financial solutions company Digital Insight Corporation for $1.65 billion.
During the same announcement, the company said it has acquired Alaric Systems Limited for $84 million. Alaric, based in London, provides fraud prevention software among other products.
The move is a further step in NCR’s effort to transform itself into more of a software company than a hardware company. Improving its software holdings is expected to help the company expand its business and be more nimble to adapt to changing shopping trends, leading to greater profits.
In July 2011, NCR bought Alpharetta-based Radiant Systems for $1.2 billion and in 2012 it purchased Retalix, an Israeli company whose North American headquarters was in Plano, Texas, for $650 million.
NCR said Digital Insight will help it enhance its access to the mid-market retail banking segment, including Digital Insight’s customer base of more than 1,000 financial institutions, 12 million online banking users and nearly 4.8 million mobile users.
Through Alaric, NCR gains a strong authorization and routing system for managing transactions at the ATM, point of sale and mobile as well as fraud detection and prevention software designed to detect and intercept fraudulent payment transactions.
“With the announcements of our agreement to purchase Digital Insight and our acquisition of Alaric Systems, NCR becomes a powerful, global FinTech solutions provider enabling retail banks to deliver on the promise of omni-channel capabilities - on top of an unparalleled, innovative software platform,” Bill Nuti, NCR’s chairman and chief executive officer, said in a statement.
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