NEW YORK & ATLANTA, September 30, 2024–(BUSINESS WIRE)–Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today completes the acquisition of Veritas’ digital banking business. It was announced that. NCR Voyix Corporation (NYSE: VYX) (“NCR Voyix”) is a leading global provider of cloud-based digital commerce solutions. Upon completion of the transaction, the digital banking business will be rebranded as Candescent and will now be a privately held company.
Candescent is the largest platform of its kind in the United States and continues to serve more than 1,300 financial institutions and more than 29 million registered users.
As an independent company under the ownership of Veritas, Candescent will continue to deliver a superior customer experience and leverage its latest platforms to develop new products and expand its value proposition to both new and existing customers. We will continue to focus on that.
Pursuant to the terms of the transaction originally announced on August 6, 2024, Veritas acquired the assets of the NCR Voyix digital banking business for a purchase price of $2.45 billion, plus up to $100 million in additional contingent consideration in the future. .
advisor
Goldman Sachs & Co. LLC served as financial advisor and King & Spalding served as legal advisor to NCR Voyix. Evercore served as financial advisor and Gibson, Dunn & Crutcher LLP served as legal advisor. UBS Investment Bank acted as the lead financing arranger.
About Veritas Capital
Veritas is a longtime technology investor with more than $40 billion in assets under management, focused on companies operating at the intersection of technology and government. The company invests in companies that provide critical products, software and services, primarily technology and technology-enabled solutions, to government and commercial customers around the world. Veritas seeks to create value by strategically transforming its portfolio companies through organic and inorganic means. Leveraging technology to positively impact critical areas such as healthcare, education and national security is at the core of our company. Veritas is a proud steward of our nation's assets, lowering costs while improving the quality of health care, advancing our education system, and protecting our nation and our allies. For more information, please visit www.veritascapital.com.
About incandescent lamps
Candescent is the largest independent digital banking platform in the United States. With a comprehensive, digital-first suite of products, Candescent aims to increase financial institution customer success by delivering a seamless experience across digital and physical banking channels. Candescent currently serves more than 1,300 financial institutions representing more than 29 million registered users. For more information, please visit www.candescent.com.
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About NCR Voyix
NCR Voyix Corporation (NYSE: VYX) is a leading global provider of digital commerce solutions for the retail and restaurant industries. NCR Voyix transforms retail and restaurant systems with comprehensive platform-driven SaaS and service capabilities. NCR Voyix is headquartered in Atlanta, Georgia and has customers in more than 30 countries around the world.
Website: https://investor.ncrvoyix.com
Twitter: https://www.x.com/ncr_voyix/
Facebook: https://www.facebook.com/ncrcorp
Instagram: https://www.instagram.com/ncrvoyix/
LinkedIn: https://www.linkedin.com/company/ncrvoyix/
YouTube: https://www.youtube.com/@ncrvoyix
Forward-looking statements
This release contains statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks and uncertainties. subject to assumptions regarding future events that may not be proven. To be precise. In some cases, the words “may”, “could”, “anticipate”, “intend”, “plan”, “target”, “seek”, “anticipate”, ” “believe,'' “estimate,'' “predict,'' “may,'' or “continue,'' or the negative of these terms, or other comparable terms. These statements include, without limitation, forward-looking statements, expressed or implied, regarding our expectations regarding the sale of our cloud-based digital banking business. This includes the estimated proceeds from the sale and the expected completion date of the sale. sale. These statements are neither promises nor guarantees and are subject to various risks and uncertainties, many of which are beyond our control and may cause our actual results, activity levels, performance or achievements to be different. Actual results may differ materially from those anticipated in future forecasts. The statement you are looking for. Investors and others are cautioned not to place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied include our ability to achieve some or all of the expected benefits from the sale of our digital banking business, our relationship with Veritas Capital; including our ability to perform under our contracts and our ability to succeed; The completion of the sale and other risks and uncertainties are further discussed in the “Risk Factors” section of the Company's most recent Annual Report on Form 10-K and in the Company's subsequent Quarterly Reports on Form 10-Q. It has been. Our other reports filed with or furnished to the U.S. Securities and Exchange Commission are available at www.sec.gov. Forward-looking statements should be considered in light of these risks and uncertainties. These forward-looking statements speak only as of the date of this Current Report on Form 8-K or the dates they refer to, and NCR Voyix does not intend to update forward-looking statements as a result of new information or results. shall have no obligation. future events or developments, except as required by law;
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contact address
Veritas Capital:
news media
Prosec Partners
Pro-Veritas@Prosek.com
NCR Voices:
news media
susan sloan
media.relations@ncrvoyix.com
investor
Alan Katz
alan.katz@ncrvoyix.com
