NCR reveals new names for separated brands as company division accelerates
Enterprise technology provider NCR Corporation has unveiled the new names of the digital commerce and ATM businesses that will form following the planned separation of the company, which is projected for Q4 2023.
NCR unveils new names for business separation endeavour
The firm has confirmed the new name of its digital commerce business as NCR Voyix, while its soon-to-be-separate ATM business is to be called NCR Atleos.
The Atlanta, Georgia-headquartered company says it conducted “a thorough naming process” through surveys, research and stakeholder engagement while also engaging with consultancy firm Interbrand to decide on the new names and brand image.
NCR Voyix and NCR Atleos
The company says it has chosen to retain the name NCR as “a proven badge of experience” and that the word Voyix demonstrates the concept of a voyage, which according to the company “is how customers describe their journeys with NCR”.
It adds that the use of the letter ‘x’ in Voyix represents “the actionable insights delivered to customers and the visual manifestation of the company’s ability to ‘link’ the digital and physical worlds”.
NCR CEO Michael Hayford says NCR Voyix will leverage the company’s software “to continue transforming, connecting and running global retail, hospitality and digital banking technology platforms”.
NCR Atleos intends to be reminiscent of an atlas or map, while also being a nod to the company’s future plans of expanding the ATM business’s reach.
Breaking this down further, the company says the ‘At’ remembers its “past and present history with automated tellers”, which when combined with ‘eos’, the name of the Greek goddess for dawn, “speaks to NCR’s drive to scale ATM-as-a-Service (ATMaaS), interactive tellers and future innovations”.
Separation gathers pace
NCR announced that it was to separate into two entities in September 2022, creating two independent firms that could each pursue its own specific growth strategy. At the time, the company said that it hoped dividing the two would “unlock value” for its shareholders, with Hayford projecting the move would create “two strong companies at scale”.
Initially, speculation swirled that NCR was looking to sell up in July last year, with the private equity firm Veritas Capital allegedly in talks to lead an acquisition.
However, NCR executive chairman, board of directors, Frank Martire later rebuked this activity, saying that it had become “increasingly clear” that a buyer could not be sourced that would reflect “appropriate and acceptable value” for NCR shareholders.
As progress on the separation gained pace, the company announced two new appointments to lead the two entities in May of this year.
For NCR Atleos, the company’s current senior executive VP and CFO, Tim Oliver, is to take the helm, while David Wilkinson, executive VP and president of NCR Commerce, will be CEO of NCR Voyix.
The company has also named Joseph Reece, managing partner and co-founder of SilverBox Capital, as the new chairman of its board of directors.
