Commission approves acquisition of 100% of the equity share capital of NCR Atleos Corporation (Target) by The Brink's Company (Acquirer)

Competition Commission of India (CCI) has approved the acquisition of 100% of the equity share capital of NCR Atleos Corporation (Target) by The Brink's Company (Acquirer).

The Proposed Combination entails the acquisition of 100% of the equity share capital of the Target by the Acquirer. Post completion, the Target shall be wholly owned and controlled by the Acquirer.

The Acquirer is a global provider of cash and valuables management, digital retail solutions and ATM managed services, operating in over 100 countries. In India, the Acquirer principally provides cash replenishment services and ancillary first-line maintenance service through its subsidiary Brink's India Private Limited.

The Target is a financial technology company providing self-directed banking solutions globally. In India, the Target's activities principally comprise: (i) manufacture and supply of ATM hardware, including through its Chennai manufacturing facility; (ii) development and licensing of ATM software; (iii) ATM managed services, including monitoring, help-desk and transaction processing; and (iv) ATM maintenance services, i.e., first-line maintenance and second line maintenance.

Detailed order of the Commission will follow.

*****

SR/ONP