NCR Seeks To Purchase Jetpay Corp (NASDAQ:JTPY)

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Jetpay Corp (NASDAQ:JTPY) is business giant that focuses in the provision of vertically integrated solutions. This company since its establishment provides low-cost payment options to its customers and seeks to do even more. It was today that NCR Corporation (NCR) disclosed details regarding its plans to acquire JetPay.

A close outlook

As per the terms of the definitive agreement, this transaction will be in the form of cash tender. Every JetPay share goes for $5.05.The total purchase price according to reports stands at about $184 million.

The buyer makes payments in different forms. One of the ways will be the cash on hand. The boards of directors of the two companies are in total agreement with the latest undertakings. They approve everything and that implies matters will progress smoothly.

NCR’s board of directors has applauded the latest efforts. It believes the efforts will help take the company’s business operations a notch higher. Over the years, the company sought to get to a point where it could succeed at integrating its payments platform accordingly.

Future plans

The time has finally come and will be integrating it with the enterprise point-of-sale (POS) solutions. The ones that stand to gain from the major developments are the hospitality industries as well as the retail ones.

NCR also seeks to accelerate its strategy in line with giving a major lift to its growth in revenues. It hopes that by advancing its services and software it will be able to stabilize its business operations.

The President of NCR Michael D. Hayford opined, “The acquisition of JetPay is a key, strategic initiative that will enable NCR to create a full, end-to-end integrated payments offering for its enterprise-wide POS customers. Enabling payments as part of our transactions is part of our long-term strategy to create integrated value for our clients.”

If all moves according to plan, the transaction might come to a close towards the end of this year. However, the regulatory approval has a part to play. The customary closing conditions also exist and they will offer guidance on the way forward.

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