Self-service kiosk and point-of-sale (POS) company NCR Corporation has acquired Foremost Business Systems, a Minneapolis firm that makes POS systems for the restaurant industry.
NCR announced the acquisition Monday (Aug. 23), saying it would expand the reach of its restaurant technology, already used in more than 10,000 eateries worldwide. Terms of the deal were not released.
“Bringing Foremost Business Systems into the NCR family aligns with our strategy to increase our capabilities to deliver our solutions and serve our customers in thriving local restaurant markets, like Minneapolis,” NCR CEO Michael D. Hayford said in a news release.
This is NCR’s second acquisition this month, following its combination on Aug. 10 with Cardtronics, a non-bank ATM operator.
The two companies had announced the $2.5 billion deal in January, but it needed final approval from the U.K.’s Competition Market Authority.
Under this latest deal, NCR will maintain Foremost’s customer sites with its management team and staff of local restaurant experts in Minneapolis. The companies say the integration will speed NCR’s ability to “bring innovative solutions” to customers in Minnesota and Western Wisconsin.
“Our customers will continue to work with the same team they’ve grown familiar with through the years — and now, we have access to global resources and can deliver even better service,” said Lori Alwin, president of Foremost Business Systems.
Learn more: NCR Names COO As President
The deal comes five days after NCR named its COO Owen Sullivan to serve as its president. The arrangement will see Sullivan stay on as COO, responsible for carrying out the company’s growth strategy and “transforming the company into one led by software and services,” NCR said in a news release.