Brink's To Acquire NCR Atleos In Cash And Stock Transaction Valued At ~$6.6B

Cash and stock transaction combines two complementary trusted and globally recognized financial technology infrastructure providers to better serve banking and retail customers

Positioned to accelerate Brink's growth in high-margin AMS and DRS businesses by expanding into large, under-penetrated addressable markets

Expected to deliver at least 35% accretion to EPS, while generating strong cash flow with an estimated $200 million in annual run-rate cost synergies

RICHMOND, Va. and ATLANTA, Feb. 26, 2026 (GLOBE NEWSWIRE) -- The Brink's Company (NYSE:BCO) ("Brink's") and NCR Atleos Corporation (NYSE:NATL) ("NCR Atleos") today announced that they have entered into a definitive agreement under which Brink's will acquire NCR Atleos in a cash and stock transaction valued at approximately $6.6 billion, comprised of 13.3 million shares of Brink's common stock and $2.2 billion in cash, plus the assumption of approximately $2.6 billion of NCR Atleos' indebtedness.

The transaction combines two leading financial technology infrastructure providers, joining Brink's global cash management expertise and route-based infrastructure with NCR Atleos' end-to-end ATM management and services expertise as well as its owned-and-operated ATM network and fast-growing ATM as a Service (ATMaaS) outsourcing solutions. By bringing together the complementary products, services and software of the two companies, Brink's will be able to provide financial institutions and retail customers with an even broader set of solutions.

Transaction Details

Brink's will acquire each outstanding share of NCR Atleos for $30.00 in cash and 0.1574 shares of Brink's common stock, which, based on Brink's closing share price on February 25, 2026 of $129.58, reflects an implied value of $50.40 per share of NCR Atleos. The implied $50.40 value of the per share merger consideration represents a premium of approximately 24% over NCR Atleos' closing share price on February 25, 2026, and a premium of 26% over NCR Atleos' 30-day volume weighted average price. Post-closing, Brink's shareholders will own approximately 78%, and NCR Atleos shareholders will own approximately 22%, of the outstanding shares of Brink's common stock.

The cash portion of the purchase price will be financed with a combination of cash on the balance sheet and new debt raised. Brink's has obtained $4.5 billion in committed bridge financing from Morgan Stanley Senior Funding, Inc.

Timing, Approvals and Governance

The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in the first quarter of 2027, subject to customary closing conditions, including regulatory approvals and the approval of both companies' shareholders.

Mark Eubanks and Kurt McMaken will serve as Chief Executive Officer and Chief Financial Officer, respectively, of the combined company. Upon closing, one mutually agreed upon independent director from the NCR Atleos Board of Directors will join the Brink's Board of Directors.