NCR Voyix Corporation announced the completion of the previously announced sale of its Digital Banking business to Veritas Capital. The transaction was finalized for a purchase price of $2.45 billion in cash. Additionally, the agreement includes potential future contingent consideration of up to an additional $100 million.
Following the acquisition, the Digital Banking business has been rebranded as Candescent and will now operate as a privately held company. Candescent remains the largest independent platform of its kind in the United States, serving over 1,300 financial institutions and more than 29 million registered users. This divestiture allows the former Digital Banking unit to focus on delivering customer experiences and developing new products as a standalone entity.
For NCR Voyix, the completion of this transaction represents a significant strategic step forward, as it narrows the company's focus on its core retail and restaurant businesses. CEO David Wilkinson stated that this move is designed to drive enhanced long-term value for shareholders. The proceeds from the sale are expected to largely be used to reduce indebtedness, significantly strengthening the balance sheet.
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