Al Barbarino
March 4, 2026
Brink's, NCR Ink $6.6B Deal As Sidley, King & Spalding Advise
2 min
AI-made summary
- • The Brink's Co
- has agreed to acquire NCR Atleos in a cash-and-stock deal valued at approximately $6.6 billion. • The transaction includes issuing 13.3 million Brink's shares, $2.2 billion in cash, and assuming about $2.6 billion of NCR's debt. • After closing, Brink's shareholders will own about 78% of the combined company, with NCR Atleos shareholders holding approximately 22%. • The deal is expected to deliver $200 million in annual cost synergies within three years and is set to close in Q1 2027, pending approvals. • Sidley Austin LLP advised Brink's, King & Spalding LLP advised NCR, with Morgan Stanley and J.P
- Morgan serving as financial advisers.
The Brink's Co. said Thursday it has agreed to purchase NCR Atleos in a cash-and-stock transaction valued at approximately $6.6 billion, with Sidley Austin LLP advising Brink's and King & Spalding LLP guiding NCR.
Under the agreement, the Brink's Co. will issue 13.3 million shares of its common stock to NCR Atleos shareholders, pay $2.2 billion in cash, and assume approximately $2.6 billion of NCR's debt, according to a deal announcement.
Post-close, Brink's Co. shareholders are expected to own about 78% of the combined company, with NCR Atleos shareholders holding approximately 22%.
The transaction combines the Brink's Co.'s global cash management and route-based infrastructure with NCR Atleos' ATM management expertise and owned-and-operated ATM network, including fast-growing ATM-as-a-service outsourcing solutions, the announcement said.
"This acquisition further supports Brink's ability to deliver enhanced customer solutions and accelerates our value creation strategy," said Mark Eubanks, the company's president and CEO, in the announcement.
"By combining our organizations, we gain critical scale and complementary, integrated capabilities to drive our ambitious growth strategy and provide new levels of service to our global customer base," added Eubanks, who will be CEO of the combined company.
NCR Atleos CEO Tim Oliver said the deal represents a strategic opportunity to enhance offerings for financial institutions and retailers, as well as to create more opportunities for employees.
The Brink's Co. said the combination is expected to deliver mid-single-digit organic revenue growth, strong free cash flow, and $200 million in annual run-rate cost synergies within three years.
The transaction has been unanimously approved by both companies' boards and is expected to close in the first quarter of 2027, subject to customary regulatory and shareholder approvals.
Morgan Stanley & Co. LLC is the financial adviser to the Brink's Co., while J.P. Morgan Securities LLC is advising NCR Atleos.
Latham & Watkins LLP is representing J.P. Morgan, led by partners Charles Ruck and Brian Umanoff.
The Sidley team is led by partners David Grubman, Adam Cromie, and George Hunter.
The King & Spalding team is led by partners Keith Townsend, Rahul Patel, Robert Leclerc, and Michelle Stewart.
Article Author
Al Barbarino
The Sponsor