[Techtaffy Newsdesk]

NCR has signed a definitive agreement  to acquire Retalix, a provider of  retail software and services, for approximately $650 million. The transaction is expected to accelerate NCR’s corporate strategy by increasing the portfolio mix of higher-margin software and services.

Retalix’s software and services are deployed in over 70,000 retail locations with more than 400,000 customer touch points in over 50 countries that transact billions of dollars in annual sales across its platform. NCR also expects to use Retalix’s software to accelerate the development of NCR’s enterprise software platform, creating new software modules that can be used across the retail industry and leveraged across NCR’s financial, travel and hospitality industries on a global scale.

Under the terms of the agreement, Retalix will merge with a subsidiary of NCR, and Retalix shareholders will receive $30.00 in cash per share of Retalix common stock.

The transaction is expected to be completed in the first quarter of 2013, subjected to customary regulatory conditions.

J.P. Morgan acted as exclusive financial advisor and Morrison & Foerster and Amit, Pollak, Matalon & Co. acted as legal counsel to NCR on the transaction. Jefferies acted as financial advisor and Meitar Liquornik Geva & Leshem Brandwein acted as legal counsel to Retalix on the transaction.

Retalix is headquartered in Ra’anana, Israel, and holds North American headquarters in Plano, Texas.