The Brink’s Company to Buy NCR Atleos in $6.6 Billion Deal
The acquisition combines global cash management expertise with a massive ATM network to expand Brink's presence in managed services and digital retail solutions.
The Brink’s Company (BCO) agreed to acquire NCR Atleos Corporation (NATL) in a cash-and-stock transaction valued at approximately $6.6 billion. The deal comprises 13.3 million shares of Brink’s common stock and $2.2 billion in cash, alongside the assumption of roughly $2.6 billion of NCR Atleos’ indebtedness.
Under the terms of the agreement, Brink’s will acquire each outstanding share of NCR Atleos for $30.00 in cash and 0.1574 shares of Brink’s common stock. This consideration represented an implied value of $50.40 per share, a 26% premium to the 30-day volume-weighted average price.
Brink’s said the acquisition will integrate complementary products, services, and software to provide a broader set of solutions for retail customers and financial institutions. “This combination will expand our presence in ATM managed services and digital retail solutions, enabling us to deliver a broader and more innovative set of offerings to our customers,” said Mark Eubanks, President and Chief Executive Officer of The Brink’s Company.
NCR Atleos operates as a financial technology company specializing in self-directed banking solutions. Its assets include a global installed base of approximately 600,000 ATMs and the largest independent network of owned and operated ATMs, consisting of about 78,000 units in high-foot-traffic retail locations. The integration is intended to scale Brink's digital retail solutions business through this existing ATM management infrastructure.
The transaction is expected to be at least 35% accretive to earnings per share. Brink’s expects to realize $200 million in annual run-rate cost synergies within three years of closing. The combined entity is anticipated to generate approximately $10 billion in total revenue.
Shareholders of both companies have voted to approve the acquisition, and the deal has received clearance under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is expected to close by the end of the first quarter of 2027, subject to remaining regulatory approvals and customary closing conditions.