MUMBAI: NCR Corporation has purchased the remaining equity in TNR Holdings Corp., in order to expand the NCR SelfServ Entertainment portfolio across North America under the Blockbuster Express brand.
NCR will leverage TNR’s operator skills and retail merchandising experience as it accelerates the installation of state-of-the-art Blockbuster Express branded DVD rental kiosks in retail locations such as supermarkets and convenience stores.
"This acquisition is a major step forward in NCR’s strategy of becoming the leading provider of self-service entertainment solutions and will deliver the best and broadest media offerings to our customers through our partnership with Blockbuster. As the global leader in self-service solutions, NCR is applying our expertise to the entertainment industry to offer consumers a fast, easy and convenient way to buy and rent movies, music and video games," said NCR Industry Solutions Group executive vice president John Bruno.
In the fall of 2008, NCR began a strategic alliance with Blockbuster Inc., a global provider of media entertainment, to deploy Blockbuster Express branded DVD rental kiosks in a successful pilot program that was the first step of a national rollout of thousands of units.
NCR purchased the remaining equity in TNR Holdings Corp. from TNR shareholders including MCG Capital Corporation. TNR operates DVD rental kiosks under the brands MovieCube and The New Release in supermarkets and grocery stores throughout North America. NCR had been a minority investor in TNR since the summer of 2008. NCR has purchased the remaining equity and debt in TNR for cash considerations.