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NCR says it will buy Retalix for about $650M

Wed, 11/28/2012 - 6:23pm
The Associated Press

NCR Corp., which makes ATMs and self-service checkout machines, said Wednesday that it will buy Retalix Ltd., a maker of software for grocery stores, in a deal worth about $660 million.

NCR, based in Duluth, Ga., agreed to buy Retalix for $30 per share. That's a premium of 37 percent based on the Tuesday closing price of Retalix shares. NCR said the purchase will strengthen its position in the retail industry and increase its offerings of profitable software and services.

Retalix shares jumped $7.60, or 34.7 percent, to close at $29.50 on Wednesday. They reached an all-time high of $30.39 earlier in the session. NCR shares fell 21 cents to close at $23.75.

NCR reported $4.09 billion in revenue over the first three quarters of 2012. Retalix had about $204 million in revenue in that period.

NCR expects to complete the deal in the first quarter of 2013. It has entered into voting agreements with Retalix's two largest shareholders, Alpha Group and Ronex, which combined own about 38 percent of the company's shares.

Retalix is headquartered in Israel with North American operations based in Plano, Texas.

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