Automated teller and financial technology company NCR, one of Atlanta’s largest companies, is on track to split itself into two separate public companies later this year. On Monday, the company revealed the names of the new corporations — aiming to reflect each company’s new mission while retaining a few familiar letters.
The part of the company that will standalone and focus on making automated teller machines and will be called NCR Atleos. And the business that will set its sights on digital commerce will be known as NCR Voyix.
Atleos is the combination of atlas, the “AT” abbreviation for automated tellers and “Eos,” the Greek god personifying the dawn of a new era, according to a news release. Voyix references the word “voyage” while including the letter “x” to represent “the actionable insights delivered to customers and the visual manifestation of the company’s ability to ‘link’ the digital and physical worlds,” the release continued.
NCR CEO Michael D. Hayford said both companies will leverage the current name recognition and brand of NCR, which was a priority among a survey of thousands of employees and stakeholders.
By keeping the NCR name with both companies, this split will follow in the same footsteps as computing giant Hewlett-Packard, which broke into two companies in 2015. The desktop computer and printer side of the Silicon Valley company became HP Inc., while the server business became Hewlett-Packard Enterprise.
Tim Oliver, NCR’s current senior executive vice president and chief financial officer, has been tapped as the CEO-designate for NCR Atleos. David Wilkinson, NCR’s current executive vice president and president of NCR Commerce will lead NCR Voyix. The company has not released information on Hayford’s post-split role.
The company’s roots date back 1884 when it was founded in Dayton, Ohio, as National Cash Register Co. Jennifer Personette, NCR’s chief marketing officer, said both new entities needed to reference that longstanding history, which saw NCR grow into a Fortune 500 company.
“We took the responsibility of renaming a company with more than 130 years of history very seriously,” Personette said in the release. “The strength of both brands, which build on our existing positive brand value, is evident in the recent momentum of the business and customer feedback.”
NCR moved to Georgia in 2009 amid the Great Recession and would later move in 2015 to a shiny campus in Midtown with a 15-year lease. The company recently put up one of its two office towers in the campus up for sublease.
Recent federal filings did not disclose the future headquarters of the ATM business. It is possible the ATM business could opt to assume part or all of that listed sublease space.
A spokesperson declined to comment about the companies’ future office plans.
The impending split will likely result in both new companies falling off the Fortune 500 list of the largest American companies by revenue, which would leave metro Atlanta with 16 entries on the list.
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