NCR Voyix has entered an agreement to sell its cloud-based digital banking business for $2.45 billion in cash to Veritas Capital.
The definitive agreement will also see an affiliate of Veritas pay an additional contingent consideration of up to $100 million for the business, which serves more than 1300 financial institutions and over 20 million active users.
NCR Voyix is offloading the business to focus on its core software and services offerings for restaurants and retailers.
The move comes after NCR split into two independent, publicly traded companies - Voyix and Atleos - last year. Atleos still focuses on ATMs and bank branch technology.
David Wilkinson, CEO, NCR Voyix, says: “This transaction allows us to drive value for our shareholders by strengthening our financial position and focusing on our core restaurant and retail customers.”