NCR Corp said July 2 that it acquired D3 Technology Inc. Financial terms weren’t announced. D3 provides mobile banking for the large financial institution market. D3 has raised $38.34 million in funding from investors including Invest Nebraska, West Partners, and Route 66 Ventures, PitchBook said. Robert Koven, a managing director at Leonis Partners, advised D3.
NCR Acquires D3 Technology
ATLANTA and OMAHA, Neb. – July 2, 2019 – NCR Corporation (NYSE: NCR), a technology leader for the financial industry, today announced that the company has acquired D3 Technology, Inc., a leading provider of online and mobile banking for the Large Financial Institution (LFI) market. Adding D3 immediately expands NCR Digital Banking into new market segments, including U.S. large banks and over time, international banks.
“D3 has a well-earned reputation for innovation and product excellence and delivers one of the most advanced digital platforms for large banks,” said Michael D. Hayford, president and chief executive officer, NCR Corporation. “NCR’s Digital First Banking solutions help financial institutions connect with consumers whenever, wherever, and this acquisition helps NCR provide banks of all sizes with an exceptional digital experience.”
D3’s customer-focused solutions have become a leading digital platform for large banks. Mark Vipond, chief executive officer for D3 stated, “NCR is a great fit for D3 and the timing is right for us to combine forces to create a powerful digital transformation platform for large financial institutions. This transaction enables us to capitalize on new market opportunities and bring top-tier capabilities to our mutual and future clients.”
The expansion of NCR’s digital banking solution portfolio means that in addition to delivering one of the industry’s strongest solutions in the cloud for the Community Financial Institution (CFI) market, it can now provide a leading on-premise solution built for the needs of LFIs.
NCR is a leading provider of digital banking solutions for financial institutions. D3 accelerates NCR’s Digital First Banking strategy, which includes integration of the customer experience across all self-service channels such as online and mobile banking, ATMs, Interactive Teller Machines and other Banking software solutions, complemented by NCR’s consulting, advisory and support services.
Financial terms of the transaction were not disclosed. The transaction is expected to be slightly dilutive to EPS in the first year.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leading software- and services-led enterprise provider in the financial, retail, hospitality, telecom and technology industries. NCR is headquartered in Atlanta, Ga., with 34,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.