NCR Acquires StopLift, Gains Powerful Anti-Theft Solution for Self-Checkout
ATLANTA and Cambridge, Mass. – November 6, 2018 – NCR Corporation (NYSE: NCR) today announced that it has acquired StopLift Checkout Vision Systems, a leader in intelligent computer vision systems, to combat theft in the retail business. Financial terms of the transaction were not disclosed.
This transaction reinforces NCR’s strategic focus on self-checkout solutions that provide the best possible shopper experience and return on the investment for retailers. NCR will integrate StopLift’s Artificial Intelligence capabilities that detect unusual and possibly fraudulent behavior into its retail store transformation solutions. StopLift’s loss prevention management features will help NCR address retailers’ concerns over shrink. NCR is the global leader in self-checkout technology with more than 250,000 installations worldwide.
“This acquisition will help NCR accelerate growth in our market-leading self-checkout and store transformation solutions,” said NCR President and Chief Executive Officer, Michael D. Hayford. “In addition to creating new value for our retail customers around the world, StopLift’s fraud detection technology will be a key enabler of our frictionless commerce product strategy.”
Headquartered in Cambridge, Mass., StopLift has developed Artificial Intelligence capabilities that visually determine what occurs during each transaction to distinguish between legitimate and fraudulent behavior at the checkout. Most notably, StopLift’s technology detects scan-avoidance and flags unscanned, unpaid merchandise at the checkout. Examples include passing items around the scanner, leaving unscanned items in the shopping cart, and covering up the barcode while scanning.
“We have been working with NCR since 2016 to integrate our patented technology with SmartAssist, which successfully detects shrink at the checkout counter with NCR’s self-checkout solutions,” explained Malay Kundu, founder and CEO of StopLift. “As retailers are looking to embrace frictionless checkout, our combined technologies will bring the advantages of loss prevention management to NCR’s global customer base in this critical time of retail transformation.”
The two companies anticipate a smooth transition for customers, channel partners and employees.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in banking and commerce solutions, powering incredible experiences that make life easier. With its software, hardware, and portfolio of services, NCR enables 760 million transactions daily across financial, retail, hospitality, travel, 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.
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About StopLift
StopLift Checkout Vision Systems markets its patented ScanItAll technology designed to detect and deter shoplifting and employee theft in retail businesses across the globe. It uses Artificial Intelligence to analyze and compare security video and POS data to identify unscanned items at retail and supermarket checkouts. To date, it has confirmed more than 3.1 million scan avoidance incidents at manned and self-checkouts around the globe. StopLift is headquartered in Cambridge, Massachusetts and has an office in Kolkata, India.
News Media Contact:
Tim Henschel
NCR Public Relations
770-299-5100
[email protected]
Investor Contact:
Michael Nelson
NCR Corporation
678-808-6995
[email protected]
StopLift Contact:
Sherry Alpert
Sherry Alpert Corporate Communications, LLC for StopLift
617-678-1613
[email protected]
Cautionary Statement Regarding Forward-Looking Statements
Statements in this announcement regarding the transaction, the benefits of the transaction, general business outlook and any other statements about the future expectations, beliefs, goals, plans or prospects of the board or management of NCR constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "expects," "intends," "anticipates," "estimates," "predicts," "believes," "should," "potential," "may," "forecast," "objective," "plan," or "targets" and other similar expressions) are intended to identify forward-looking statements. There are a number of factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the potential impact of the transaction on relationships, including with employees, suppliers and customers of NCR and StopLift; the ability to achieve the value creation contemplated by the transaction; and the other factors and financial, operational and legal risks or uncertainties described in the NCR’s public filings with the SEC. NCR disclaims any intention or obligation to update or revise any forward-looking statements as a result of developments occurring after the date of this document except as required by law.
NCR Corporation (NYSE: NCR) es líder en la transformación, conexión y ejecución de plataformas tecnológicas para bancos, tiendas y restaurantes autodirigidos. NCR tiene su sede en Atlanta, Georgia, y cuenta con 35 000 empleados en todo el mundo. NCR es una marca comercial de NCR Corporation en los Estados Unidos y en otros países.
NCR VOYIX Corporation (NYSE: VYX) es un proveedor líder mundial de soluciones de comercio digital para los sectores minorista, de restaurantes y de banca digital. NCR VOYIX transforma las tiendas minoristas, los sistemas de restaurantes y las experiencias de banca digital con capacidades de SaaS y servicios integrales y basadas en plataformas. NCR VOYIX tiene su sede en Atlanta, Georgia, y cuenta con aproximadamente 16 000 empleados en 35 países de todo el mundo.
Este comunicado contiene declaraciones prospectivas. Las declaraciones prospectivas utilizan palabras como «esperar», «anticipar», «perspectiva», «pretender», «planificar», «confiar», «creer», «será», «debería», «podría», «potencial», «posicionamiento», «propuesto», «planificado», «objetivo», «probable», «podría», «podría» y palabras de significado similar, así como otras palabras o expresiones que hacen referencia eventos, condiciones o circunstancias futuros. Declaraciones que describen o se relacionan con los planes, objetivos, intenciones, estrategias o perspectivas financieras de NCR o NCR VOYIX con respecto a la escisión, la intención de NCR o NCR VOYIX de consumar la oferta y emitir los Bonos o el uso previsto de las ganancias de la oferta de los Bonos y celebrar las nuevas líneas de crédito senior garantizadas, y declaraciones que no estén relacionadas con hecho actual, son ejemplos de declaraciones prospectivas. Las declaraciones prospectivas se basan en nuestras creencias, expectativas y suposiciones actuales, que pueden no resultar precisas, e implican una serie de riesgos e incertidumbres conocidos y desconocidos, muchos de los cuales están fuera del control de NCR y NCR VOYIX. Las declaraciones prospectivas no garantizan el rendimiento futuro, y hay una serie de factores importantes que podrían hacer que los resultados y los resultados reales difieran sustancialmente de los resultados contemplados en dichas declaraciones prospectivas. Puede encontrar información adicional sobre estos y otros factores en las presentaciones de NCR y NCR VOYIX ante la Comisión de Bolsa y Valores de los Estados Unidos, incluido el informe anual más reciente de NCR en el formulario 10-K, el informe trimestral más reciente en el formulario 10-Q y los informes actuales en el formulario 8-K y la declaración de registro de NCR VOYIX en el formulario 10, el informe trimestral más reciente en el formulario 10-Q y los informes actuales en el formulario 8-K. Cualquier declaración prospectiva se refiere únicamente a la fecha en que se hace. Ni NCR ni NCR VOYIX asumen ninguna obligación de actualizar o revisar públicamente ninguna declaración prospectiva, ya sea como resultado de nueva información, eventos futuros o de otro modo.
Contacto para inversores de NCR Voyix
Sarah Jane Schneider
[email protected]
Contacto con los medios de comunicación de NCR Voyix
Chad Biele
[email protected]