Ironic -- now the original AT&T + (NCR + Teradata) roll-up is completely undone.
NCR expects the spin off of Teradata to be tax free. Teradata had revenue of $1.5 billion and operating income of $309 million, excluding pension expenses, in 2005. The transaction is expected to close in six to nine months. Excluding Teradata, NCR had operating income of $251 million, excluding pension expenses, and revenue of $4.5 billion for 2005.
Teradata is where former NCR and current Hewlett-Packard Co. Chief Executive Mark Hurd made a name for himself, running the unit between 1998 and 2001. Teradata has been a strong performer of late, helping to offset weakness in other parts of NCR.