by Phil Bolton | November 29, 2012
NCR Corp. is to acquire for $650 million an Israeli software company based in Atlanta’s sister city, Ra’anana.
Retalix Ltd.’s software and services are used in more than 70,000 retail locations in over 50 countries. Its clients include supermarkets, convenience stores, fuel stations, drugstores and department stores.
Retalix’s strength with blue-chip retailers will be “highly complementary to NCR,” according to an NCR news release dated Nov. 28.
According to the release, NCR also expects to use Retalix’s software to accelerate the development of NCR’s enterprise software platform for use across the retail industry as well as NCR’s clients in the financial, travel and hospitality industries.
Under the terms of their agreement, Retalix is to merge with a subsidiary of NCR, and Retalix shareholders are to receive $30 in cash per share of Retalix common stock.
The transaction is to be completed in the first quarter of 2013 subject to approval by Retalix shareholders and other customary closing conditions.
Duluth-based NCR provides software and support services to the retail, financial, travel, hospitality, gaming, public sector, and telecom carrier and equipment industries in more than 100 countries.