Andre Yoskowitz
6 Feb 2012 21:54
Coinstar, the parent company of Redbox, has agreed to purchase the assets of NCR Corporation for $100 million.
NCR is the company behind the Blockbuster Express kiosks, Redbox's main rival in the business. The purchase wil bring Coinstar "DVD kiosks, certain retailer contracts, and DVD inventory from NCR's entertainment line of business."
Additionally, the two companies will "enter into a strategic supplier arrangement where Coinstar will purchase product and services from NCR" in the future.
Says Redbox president Scott Di Valerio: "We are very pleased to enter into this agreement with NCR. As the global self-service solutions leader, NCR has strong technology, manufacturing and servicing capabilities, and we look forward to leveraging their expertise as Coinstar continues to grow its core automated retail businesses and expands its offerings."
Adds NCR: "Through this agreement with Redbox, NCR will be better positioned to focus on expanding our business in our targeted industries. Additionally, this transaction affords us the opportunity to develop a long-term strategic relationship with Coinstar and partner on delivering new and innovative solutions to the market."
Redbox currently has 35,000 kiosks across the U.S.