NCR Corp. is nearing a deal to buy Cardtronics PLC after outbidding a pair of investment firms that had earlier agreed to buy the ATM operator.
NCR is finalizing a takeover that would value Cardtronics at $39 a share, or around $1.7 billion, according to people familiar with the matter. As always, the talks could fall apart before a deal is reached.
The investment firms—private-equity giant Apollo Global Management Inc. and Hudson Executive Capital LP—declined to raise their prior offer of $35 a share, paving the way for the impending deal.
Cardtronics, with 285,000 ATMs in 10 countries, is one of the largest cash-machine operators in the world. A deal would pair the company with Atlanta-based NCR, which makes ATMs as well as point-of-sale systems and self-service kiosks for businesses such as retailers and restaurants.
Cardtronics had a market value of about $1.8 billion Friday afternoon, while NCR’s was $4.3 billion.