- Blackstone was brought in by NCR in December 2015 as an experienced technology investor to add value to and accelerate NCR's strategic transformation to an integrated software and services company.
- Exit from its investment in 2019 was profitable for Blackstone. NCR's transformation continues with acquisition of Cardtronics, but appears to still be very much a work in progress.
- NCR management reports Non-GAAP diluted EPS on an adjusted EBITDA basis.
- NCR Non-GAAP diluted EPS is considered a useful tool by NCR management but excludes significant expenses of relevance to common stockholders.
- Current and prospective NCR common stockholders need to look beyond the company's headline Non-GAAP EPS measures for something appropriate for assessing the fair value of NCR.
For further details see:
NCR: The Blackstone Legacy And What's Ahead