NCR and Scopus Tecnologia, a wholly owned subsidiary of Banco Bradesco, have formed a strategic alliance for the manufacturing and development of ATMs in Brazil, the companies announced July 27.
Under the agreement, Scopus acquire a 49% equity stake in NCR Manaus, NCR's Brazilian manufacturing and engineering operations. Concurrently, Banco Bradesco signed an agreement with a target for 30,000 ATMs over the next five years, making NCR its preferred ATM provider with an initial order for more than 6,000 ATMs from NCR Manaus, according to an NCR press release.
The agreements will enable NCR to leverage Scopus' technology knowledge and geographical presence, improve manufacturing productivity and deliver products more quickly to financial institutions across Brazil, the world's fourth largest ATM market, NCR said.
The agreement is subject to regulatory approval. Terms of the deal were not disclosed. NCR's sales, services and other employees will remain in a separate company and continue to deliver sales and services support to NCR's broader customer base in Brazil, the release notes.
"This is a bold, strategic, and transformative alliance that is perfectly aligned with our corporate strategy as it expands and strengthens our geographic presence and sales coverage," Bill Nuti, NCR chairman and CEO, said in the release. "It underscores why we ultimately decided to open our manufacturing facility in Manaus back in 2009, namely to respond to customer demand for local sourcing and be closer to a dynamic growing market."
Through the preferred ATM provider agreement, Banco Bradesco will gain access to NCR's ATMs and financial self-service technology, which includes multifunction and cash dispensing machines, which the banks intends to deploy at new and existing branches in Brazil, according to the release.
NCR will service the ATMs within the warranty period, after which Scopus will provide services support.
