US ATM and self-service provider NCR (NYSE: NCR) sees significant growth potential in Brazil through its alliance with local IT firm Scopus Tecnologia, NCR CEO William Nuti told a conference call with investors.
"The Scopus alliance is an important strategic milestone for NCR in one of the world's largest and fastest growing markets," the executive said.
Scopus - owned by Brazil's second largest private sector bank, Bradesco (NYSE: BBD) - acquired a 49% equity stake in NCR Manaus, a manufacturing and engineering operation that NCR opened in 2009. As a result of the alliance, Bradesco signed an agreement for 30,000 ATMs over the next five years, with an initial order of more than 6,000 units from NCR Manaus.
"We believe this new alliance offers strong opportunities for future growth, as we look to utilize Scopus' unparalleled local market knowledge and expertise to deliver manufacturing, productivity and time-to-market gains in the fourth largest ATM market in the world," Nuti said. "Beyond financial services, Brazil offers NCR significant growth potential in retail, hospitality and also travel."
The company posted revenues of US$1.40bn in the third quarter, up 16% from US$1.21bn in the year-ago period, the firm said in its latest earnings statement.
NCR's profits for the quarter reached US$16mn, compared to US$83mn a year ago.
Follow this link for NCR's full results.