Mumbai-based payment system company Electronic Payment and Services Pvt. Ltd. (EPS) has acquired a part of the Indian ATM business of US-based NCR Corporation. EPS was advised by Intellecap's Investment Banking Group
While the financial terms of the deal were not disclosed, US-based NCR Corporation has sold a portion of the assets of its ATM business in Kerala, Bihar, Jharkhand and Lakshadweep, according to an official statement.
Subsequent to the acquisition, EPS will be managing more than 11,000 ATMs in India on behalf of banks.
“The decision to sell a significant portion of assets aligns with our vision to focus on software-driven, hardware-enabled growth supported by end-to-end managed services,” said Navroze Dastur, managing director of NCR Corporation India.
NCR Corporation India mainly manufactures and sells ATMs as well as provides software solutions and customer support.