Retalix Shareholders OK Acquisition by NCR
On Nov. 28, NCR offered to buy Retalix for approximately $650 million, or $30 per Retalix share, which trades on the NASDAQ stock market in the United States.
Even though Retalix shareholders approved the deal, it will not close yet. The transaction is subject to government regulatory and other closing conditions. In addition, under Israeli law, a minimum of 30 days must elapse after shareholder approval before an acquisition can become effective.
Retalix stated in a press release it expects the transaction to close during the first quarter of 2013.
Retalix Ltd. provides software and services that allows its retail customers -- including convenience stores and gas stations -- to manage and optimize their operations, differentiate their brand and build customer loyalty.
“Retalix is a strong, strategic fit for NCR and the combination of our two companies will drive significant value for both our shareholders and customers,” NCR chairman and CEO Bill Nuti said in November. “Retalix's market-leading software and services capabilities will enhance NCR's retail solutions, creating a world-class portfolio of offerings. That innovation plus the addition of exceptional talent to our team positions NCR as the global leader in retail innovation.”
Duluth, Ga.-based NCR Corp. is a large manufacturer of automated teller machines and self-service checkout machines. In addition to the Retalix transaction, NCR acquired point-of-sale solution provider Radiant in 2011.