JSE-listed technology company Altron announced the conclusion of the sale of its ATM Hardware and Support Business portion of the Altron Managed Solutions Division to NCR Inc. Altron Managed Solutions will continue to operate all remaining portfolios including its retail solutions, end user computer support, cloud platform and software solutions.
The final purchase consideration will be the net asset value of the business, excluding debtors, on 30 June 2023. Altron retains ownership of the debtors book at 30 June 2023, which will be collected in the ordinary course of business as part of the deal terms.
Werner Kapp, Altron Group Chief Executive, said “The transaction is in line with our stated strategy of focusing on growing capital-light businesses in the Altron Group. We are very pleased our ATM Hardware and Support business is now under the management of NCR Inc, a global leader in this space. This will have long-term benefits for our loyal staff, customers, and suppliers. The deal represents a great outcome for all stakeholders.”
The SENS announcement can be accessed here.