NCR Completes Teradata Spin Off
DAYTON, Ohio – NCR Corporation (NYSE: NCR) today announced that it has completed the previously announced spin off of its Teradata Data Warehousing business through the distribution of a tax-free stock dividend to its stockholders. NCR distributed one share of common stock of Teradata for each share of NCR common stock to NCR stockholders of record as of the close of business on Sept. 14, 2007.
As a result of that distribution, NCR no longer owns shares of Teradata, and Teradata is an independent company. Beginning Oct. 1, 2007, Teradata common stock is listed on the New York Stock Exchange (NYSE) and trades under the symbol “TDC.”
“I am extremely grateful for the tremendous efforts all of our employees have made over the past nine months to realize this momentous event,” said Bill Nuti, chairman, chief executive officer and president of NCR. “As Teradata moves forward as an independent company, we wish the talented Teradata team all the best as they continue to build on their position as a global leader in the enterprise data warehousing market.
“This is a very exciting time for NCR as we guide businesses through the evolving world of customer interactions – where point-of-service kiosks, Internet and mobile devices are rapidly becoming channels of choice for consumers,” Nuti added. “NCR will leverage our expertise in the emerging self-service market and our market-leading technologies, including automated teller machines, retail assisted point-of-sale and self-checkout systems, automated bill payment systems and airline, hotel and hospital self-check-in/out kiosks, to enable businesses to better serve their customers how, when and where they choose.”
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