NCR Becomes Iconex
CitizenTribune, Morristown, TN
Posted on Thursday, June 2, 2016 at 11:43 am
A Morristown industry was part of a major acquisition announced Wednesday.
Atlas Holdings, LLC announced the launch of Iconex, its newest operating company, with the acquisition of the Interactive Printer Solutions (IPS) division of NCR Corporation, which includes the Morristown facility.
Iconex invented the cash register receipt 130 years ago and continues to be the world’s largest manufacturer of receipt solutions, according to a press release announcing the acquisition.
The transaction includes all dedicated assets and employees of NCR’s IPS division worldwide, other than in the Middle East and Africa (MEA) region.
An additional technical closing for the MEA region is expected to occur in the third quarter of 2016, following satisfaction of regional closing conditions. With more than 800 associates, Iconex operates 26 manufacturing facilities and distribution centers. Financial terms of the transaction were not disclosed.
Over the past 16 years, Atlas has successfully partnered with numerous corporations to carve-out business divisions and form stand-alone companies that strengthen their workforces, increase revenues and enhance the communities of which they are a part.
“Iconex is the premier provider of solutions that power commerce around the world,” said Andrew M. Bursky, Managing Partner at Atlas Holdings. “This transaction combines an iconic brand, known for its ‘best-in-class’ quality, innovation and customer service, with Atlas’ financial and human capital and proven ability to grow manufacturing and distribution businesses. We are very excited to welcome the Iconex team to the Atlas family.”
The global company of Iconex will be led by Eddie Noel, who has served as Vice President and General Manager of IPS for the past four years.
“I am honored to lead our great team at Iconex as we transition to a stand-alone business under the Atlas banner. Our bold name says a lot about who we are; it reflects our heritage as the inventor and continued leader in receipts, our innovative labeling and tracking products, and our unique tradition of always facilitating seamless connections between businesses, people and goods. Put simply, we keep commerce moving,” he said.
Jim Price will continue to lead the Morristown manufacturing facility.
For more information about Iconex, please visit: www.iconex.com
-From Staff & Contributed Reports