NCR Corp. has filed its Form 10 registration statement with the U.S. Securities and Exchange Commission for its spin off of its ATM business. This is part of NCR's plan to split into two public companies: a digital commerce one and the other on ATMs, according to a press release.

The ATM company will deliver ATM-as-as-service to banks and retailers and deliver other services such as self-service banking and digital currency solutions.

The form names several executives that will join the ATM company including Tim Oliver, CEO, Dan Antilley, chief security officer and cash operations, Stuart Mackinnon, COO and Patricia Watson, chief information and technology officer.

"We are building an organization that will sustain NCR's market leadership and extend the success of our ATM-centric businesses well into the future," Oliver said in the release.

"NCR's Q1 2023 financial results demonstrated the strength of our business, reinforced by our ability to deliver continued performance in parallel with separation activities," Michael D. Hayford, CEO of NCR, said in the release. "Our ATM and digital commerce businesses will enter the transaction with strong operational performance and strategic momentum. I remain confident that the separation will enhance the future of both companies and liberate shareholder value."

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