Press Release
NCR Corporation Announces Initial Filing of Teradata's Form 10 With the Securities and Exchange Commission - 5/10/2007
Marks key milestone in strategic separation of Teradata Data Warehousing business
DAYTON, Ohio — NCR Corporation (NYSE: NCR) today announced that Teradata has filed an initial registration statement on Form 10 with the U.S. Securities and Exchange Commission (SEC). This filing is part of the process necessary to complete the spin off of the Teradata Data Warehousing business to NCR stockholders. Subject to review by the SEC, the receipt of a ruling from the Internal Revenue Service (IRS) and final approval by NCR's board of directors, the spin off is expected to occur in the third calendar quarter of 2007.
The name of the new independent company created through this strategic separation will be Teradata Corporation and it will own the assets and liabilities associated with the Teradata Data Warehousing business. Teradata Corporation will apply to have its common stock listed on the New York Stock Exchange under the symbol "TDC." Dayton is expected to be the headquarters of Teradata Corporation, with management of the business continuing through three main locations in the United States: Atlanta, Ga.; Rancho Bernardo, Calif.; and Dayton. Mike Koehler, currently senior vice president of NCR's Teradata Data Warehousing Division, will lead the Teradata Corporation as its chief executive officer, as previously announced.
NCR stockholders as of the record date of the distribution will receive one share of Teradata Corporation common stock for each share of NCR common stock they own.
NCR President and Chief Executive Officer Bill Nuti said, "Filing the Form 10 with the SEC is an important milestone in the company's preparation for the planned spin off of Teradata. I am pleased with our progress and believe we are on track to complete the strategic separation in the third quarter of 2007, providing new opportunities for the shareholders, customers, partners and employees of each company."
A copy of the Form 10 has been made available at http://investor.ncr.com/.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leading global technology company helping businesses build stronger relationships with their customers. NCR's Teradata® data warehouses, ATMs, retail systems, self-service solutions and IT services provide Relationship Technology™ that maximizes the value of customer interactions and helps organizations create a stronger competitive position. Based in Dayton, Ohio, NCR (www.ncr.com) employs approximately 29,500 people worldwide.
About Teradata Division
Teradata (www.teradata.com), a division of NCR Corporation (NYSE: NCR), is the global technology leader in enterprise data warehousing, analytic applications and data warehousing services. Organizations around the world rely on the power of Teradata's award-winning solutions to get a single, integrated view of their business to enhance decision-making, customer relationships and profitability. As a growing business, Teradata is always looking for outstanding talent. To learn more about Teradata career opportunities, visit www.teradata.com/careers.
Teradata is a trademark or registered trademark of Teradata Corporation in the United States and other countries.
