ATM company NCR Corp. said Friday that it bought a software company that caters to banks and retailers.
Privately held Transoft International Inc. manages cash for thousands of ATMs, branches, vaults and retailers. Its software is meant to help companies reduce the costs of cash handling. Transoft said it has partnered with NCR for 18 years.
NCR works with ATMs and other types of self-service kiosks, such as those at airport check-in lines. The company, based in Duluth, Ga., said it sees compelling reasons for growing in the financial sector because ATMS are becoming more complex, with features like scanning checks and printing their images. Cash machines are also becoming more integral to many customers, some of whom rarely visit a bank branch.
Terms of the deal were not disclosed.
NCR shares fell 8 cents to close at $23.18.