NCR completes $650m Retalix acquisition

With the closing of the acquisition, Retalix has become a wholly-owned subsidiary of NCR, and will be delisted from the TASE and Nasdaq.

NCR Corporation (NYSE: NCR) has completed its $650 million cash acquisition of Israeli retail software developer Retalix Ltd. (Nasdaq: RTLX; TASE: RTLX) Ltd. (RTLX). NCR paid $30 per share, a 50% premium on the day of the acquisition announcement in November 2012.

“This acquisition is another demonstration of NCR’s commitment to global innovation, leadership and delivering a world-class portfolio of solutions that create significant value for our shareholders and customers,” said NCR chairman and CEO Bill Nuti. “Retalix’s market-leading software, services capabilities, and exceptional talent are a strategic fit for NCR, and support our continued focus on a future driven by software, wrapped elegantly in hardware and services."

With the closing of the acquisition, Retalix has become wholly-owned subsidiary of NCR, and will be delisted from the TASE and Nasdaq. Retalix's share price closed at $29.88 on Nasdaq yesterday, giving a market cap of $737 million, and at NIS 110.20 on the TASE.

Published by Globes [online], Israel business news - www.globes-online.com - on February 6, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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