NCR Acquires North America's Second-Largest DVD Kiosk Operator
Source: Innovative Retail Technologies
DAYTON, Ohio — NCR Corporation (NYSE: NCR) announced today that it has purchased the remaining equity in TNR Holdings Corp., the second largest DVD kiosk operator in North America, in order to expand the NCR SelfServ™ Entertainment portfolio across North America under the Blockbuster Express brand.
NCR will leverage TNR's operator skills and retail merchandising experience as it accelerates the installation of state-of-the-art Blockbuster Express branded DVD rental kiosks in retail locations such as supermarkets and convenience stores.
"This acquisition is a major step forward in NCR's strategy of becoming the leading provider of self-service entertainment solutions and will deliver the best and broadest media offerings to our customers through our partnership with Blockbuster," said John Bruno, executive vice president, NCR Industry Solutions Group. "As the global leader in self-service solutions, NCR is applying our expertise to the entertainment industry to offer consumers a fast, easy and convenient way to buy and rent movies, music and video games."
In the fall of 2008, NCR began a strategic alliance with Blockbuster Inc. (NYSE: BBI, BBI.B), a leading global provider of media entertainment, to deploy Blockbuster Express branded DVD rental kiosks in a successful pilot program that was the first step of a national rollout of thousands of units.
NCR purchased the remaining equity in TNR Holdings Corp. from TNR shareholders including MCG Capital Corporation (NASDAQ: MCGC), a leading specialized financial services company and financial advisor. Based in Houston, Texas, TNR operates DVD rental kiosks under the brands MovieCube™ and The New Release™ in supermarkets and grocery stores throughout North America. NCR had been a minority investor in TNR since the summer of 2008. NCR has purchased the remaining equity and debt in TNR for cash considerations. Terms were not disclosed.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a global technology company leading how the world connects, interacts and transacts with business. NCR's assisted- and self-service solutions and comprehensive support services address the needs of retail, financial, travel, healthcare, hospitality, entertainment, gaming and public sector organizations in more than 100 countries. NCR (www.ncr.com) is headquartered in Dayton, Ohio.
NCR will leverage TNR's operator skills and retail merchandising experience as it accelerates the installation of state-of-the-art Blockbuster Express branded DVD rental kiosks in retail locations such as supermarkets and convenience stores.
"This acquisition is a major step forward in NCR's strategy of becoming the leading provider of self-service entertainment solutions and will deliver the best and broadest media offerings to our customers through our partnership with Blockbuster," said John Bruno, executive vice president, NCR Industry Solutions Group. "As the global leader in self-service solutions, NCR is applying our expertise to the entertainment industry to offer consumers a fast, easy and convenient way to buy and rent movies, music and video games."
In the fall of 2008, NCR began a strategic alliance with Blockbuster Inc. (NYSE: BBI, BBI.B), a leading global provider of media entertainment, to deploy Blockbuster Express branded DVD rental kiosks in a successful pilot program that was the first step of a national rollout of thousands of units.
NCR purchased the remaining equity in TNR Holdings Corp. from TNR shareholders including MCG Capital Corporation (NASDAQ: MCGC), a leading specialized financial services company and financial advisor. Based in Houston, Texas, TNR operates DVD rental kiosks under the brands MovieCube™ and The New Release™ in supermarkets and grocery stores throughout North America. NCR had been a minority investor in TNR since the summer of 2008. NCR has purchased the remaining equity and debt in TNR for cash considerations. Terms were not disclosed.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a global technology company leading how the world connects, interacts and transacts with business. NCR's assisted- and self-service solutions and comprehensive support services address the needs of retail, financial, travel, healthcare, hospitality, entertainment, gaming and public sector organizations in more than 100 countries. NCR (www.ncr.com) is headquartered in Dayton, Ohio.
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