ATM Maker Announces $820M Partnership Deal

An automated teller machine manufacturer who is bringing its world headquarters to Midtown has announced a significant partnership deal that will allow them to enter the software and services market, according to a report.

NCR, who broke ground on the Midtown campus Nov. 5, has reached a $820 million deal with Blackstone Group, the world’s largest private equity firm. The money from Blackstone will be used to buy back up to $1 billion of NCR’s common stock, Atlanta Business Chronicle reports.

Two Blackstone managing directors will also join NCR’s board of directors once the deal closes in December, the Chronicle says.

NCR’s Midtown HQ will be built at 8th and Spring streets in the heart of Midtown’s Technology Square, the epicenter of the city’s IT and high-tech business community conveniently located next to Georgia Tech. The design of NCR’s headquarters takes the location into account. The Chronicle reported in July that the glass in the building will be two way, allowing people outside to get a glimpse of what’s going on inside.

NCR said in January that the move would bring close to 4,000 new jobs to Midtown. The technology company does have plans to construct a second campus in the northern suburbs, which should be complete around the same time as the Midtown move.