NCR Corp. (NYSE: NCR) will acquire Retalix Ltd. (Nasdaq: RTLX), a company that develops retail software and services, for $650 million.
The purchase price works out to $30 per share. The deal will be financed through a combination of cash and debt.
NCR hopes the deal will strengthen its position in the retail industry. The buyer provides assisted and self-assisted services through providing ATM machines, retail software and airport self-serve kiosks.
More than 70,000 retail locations use Retalix’s software, which is aimed at improving business processes. The company develops self checkout software and software that manages inventory.
In September, NCR bought Transoft International Inc., a company that makes cost-optimization software.
J.P. Morgan was NCR’s financial adviser, while Morrison & Foerster LLP and Amit Pollak Matalon & Co acted as legal counsel. Jefferies & Co. Inc. acted as Retalix’s financial adviser, and Meitar Liquornik Geva & Leshem Brandwein were legal counsel. The deal was announced late Nov. 28.