NCR Atleos to be Acquired by Brink’s for $6.6 Billion in a Cash and Stock Deal

The Brink’s Company (BCO) entered a merger agreement on February 26, 2026, to acquire NCR Atleos Corporation (NATL) in a cash and stock deal valued at $6.6 billion.

Deal Structure:

Brink’s will acquire each outstanding share of NCR Atleos for $30 in cash and 0.1574 shares of Brink’s common stock, which reflects an implied value of $50.40 per share of NCR Atleos. This represents a 20.37% premium from the stock’s last close.

Company Profile:

NCR Atleos is a financial technology company that provides ATM hardware, software, managed services, and operates one of the world’s largest independent ATM networks, enabling self-service banking for financial institutions, retailers, and consumers globally.

Brink’s is a global provider of cash and valuables management, secure transportation, and ATM managed services, delivering armored transport, cash processing, and security solutions to financial institutions, retailers, and governments worldwide.

Deal Details and Timeline:

Following the closing of the merger, Brink’s shareholders are expected to own approximately 78% of the outstanding shares, while NCR Atleos shareholders will hold about 22%.

The cash portion of the purchase price will be paid using a mix of existing cash and newly borrowed funds. Brink’s has secured $4.5 billion in committed bridge financing from Morgan Stanley Senior Funding.

The deal is expected to close in the first quarter of 2027.

Mark Eubanks and Kurt McMaken will serve as Chief Executive Officer and Chief Financial Officer, respectively, of the combined company. One mutually agreed-upon independent director from the Board of NCR Atleos will join the Board of Brink’s.

NCR Atleos received financial advice from J.P. Morgan Securities and legal advice from King & Spalding. Brink’s was advised financially by Morgan Stanley, and Sidley Austin provided it with legal advice.

Brink’s acquisition cost is 7.4 times the EBITDA of NCR Atleos.

Deal Metrics:

For a more in-depth look into this M&A transaction, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of NCR Atleos Corporation (NATL) by The Brink’s Company (BCO)

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Progress updates regarding regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And much more.

Disclaimer: This article is for informational purposes only. It is not a recommendation to buy or sell any security and is strictly the opinion of the writer. Information contained in this article is not intended to be, nor does it constitute, investment advice or recommendations. Please conduct your own thorough due diligence before making any investment decisions.

Editor’s Note: Baranjot Kaur contributed to this article