NCR Corporation is acquiring Oki Electric Industry Brasil's IT services and select software assets for financial, retail and other industries. Financial details of the transaction were not disclosed, but neither OKI's manufacturing operations or its printing business in Brazil were included in the agreement, according to a company press release.
"This acquisition allows NCR to further scale its business and bring additional value to customers by increasing the breadth of NCR's service offerings in Brazil, including expanded support options for banks, retailers and restaurants," NCR President and Chief Executive Officer Michael D. Hayford, said in the release.
Shinya Kamagami, OKI president, said the deal was an opportunity for its Mechatronics Division to focus on a new global business strategy to design and manufacture note recycling technology, and shift the direction of its sales efforts to the recycling modules in addition to finished ATM products
The transaction is subject to customary closing conditions, but the companies anticipate a smooth transition for customers, channel partners and employees, according to the press release.
Founded in 1881 in Japan, Oki Electric Industry is an information and telecommunication manufacturer