JSE-listed Altron said on Thursday that it plans to sell its ATM hardware and support business to NCR as the US technology company reinvests in South Africa.

The business, housed in Altron Managed Solutions, was originally bought from NCR more than 40 years ago.

The deal, of which the final amount is yet to be determined, has been capped at US$10-million (R180-million).

NCR operates in about 120 countries, with product offerings for banking, restaurants and retailers, as well as payments processing, multi-vendor connected device services, ATMs, point-of-sale terminals and self-service technologies.

More than 500 jobs will be “protected” by the sale, said Altron CEO Werner Kapp. The sale of the ATM business is in line with Altron’s strategy of “maintaining its market leadership in low-capital-intensity businesses”, he said.

Altron Managed Solutions MD Warren Mande said: “NCR and Altron have a long relationship, dating back more than 40 years. In this dynamic and highly demanding market, the future for our banking business under a global leader such as NCR brings direct access to the best global resources and talent, as well as an enhanced range of offerings, services and solution platforms for our customers.”

Read: Altron hikes interim dividend by 125%

An NCR spokesman said: “We see a bright future across Africa and look forward to innovating with customers in South Africa. The acquisition will add to our presence in South Africa, increasing the number of offerings available to our customers.”