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News

NCR Enters Agreement to Acquire Self-Checkout Business from Optimal Robotics

Monday 16 February 2004 19:52 CET | News

NCR and Optimal Robotics have entered into an agreement in principle for NCR to acquire Optimals self-checkout business for US$30 million.The agreement covers the systems and services marketed by Optimal, based in Montreal, under the U-Scan brand. NCR currently markets the NCR FastLane(tm) self-checkout system that allows shoppers to scan, bag and pay for purchases, without cashier assistance. After accounting for all related costs, it is anticipated that the acquisition will be slightly accretive to NCRs 2004 earnings assuming an early second-quarter close. Completion of the transaction is subject to execution of definitive documentation, approval by Optimal shareholders, receipt of certain third-party consents and approvals and other customary conditions. Optimal has agreed to pay NCR a termination fee under certain circumstances. The transaction is expected to close by early April.

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