The investment from Blackstone will be used by NCR to repurchase a self-tender of up to $1bn of its common stock.
With over 29,000 employees, NCR has operations in 180 countries where it offers software, hardware, and portfolio of services for financial, retail, hospitality, travel, telecom and technology industries.
Upon completion of the deal, NCR will expand its board of directors from 9 to 11 directors and appoint Chinh Chu, senior managing director, and Greg Blank, managing director, of Blackstone to the NCR board.
The deal is expected to be completed by early December this year.
NCR chairman and CEO Bill Nuti said: "After concluding a comprehensive review of strategic alternatives, the NCR Board has determined that executing our strategic plan with Blackstone’s assistance is the best way to accelerate NCR’s transformation and build long-term shareholder value.
"Blackstone is an experienced technology investor with a long-term perspective that can help us continue to drive our higher-margin software-related revenue, deliver world-class service globally, optimize our manufacturing processes and supply chain, and rationalize costs."
Blackstone’s investment is expected to help NCR in improving services productivity and customer satisfaction through a continuing shift to higher-margin, value-added service offerings, as well as
expanding margins through lean manufacturing, product lifecycle management and procurement processes.
NCR will also be able to optimize hardware and supply chain assets.
