NCR Corporation, global payment and retail technology company, is acquiring Retalix, a provider of point-of-sale software and services, for a total of approximately $650 million ($30 per share in cash).
Retalix, based in Israel with a U.S. subsidiary in Plano, Texas, has been listed on the NASDAQ stock exchange under the ticker RTLX since 1998. The company’s software and services are deployed in more than 70,000 retail locations in more than 50 countries. Its stock price surged on deal rumours earlier Wednesday, prior to announcement of the buy, from an opening price of $22.19 per share to a closing price of $29.11. NCR issued its confirmation of the deal just after market close.
NCR, based in Duluth, Georgia, has a market cap of $3.8 billion. In a statement, the company said that this will build upon the business NCR has built from its $1.2 billion mid-2011 acquisition of point-of-sale software provider Radiant Systems.
“Retalix is a strong, strategic fit for NCR and the combination of our two companies will drive significant value for both our shareholders and customers,” says Bill Nuti, CEO of NCR. “Retalix’s market-leading software and services capabilities will enhance NCR’s retail solutions, creating a world-class portfolio of offerings. That innovation plus the addition of exceptional talent to our team positions NCR as the global leader in retail innovation.”