Acquisitions and Divestitures (Notes)

12 Months Ended

Dec. 31, 2021

Divestitures [Abstract]

Acquisitions and Divestitures

ACQUISITIONS AND DIVESTITURES

Divestitures

In the second quarter of 2021, the Company divested its Asia Pacific Electronic Security business, a non-core, wholly owned portion of the banking business. The sale resulted in a gain of approximately $1.0 and cash proceeds of $5.8.

In the fourth quarter of 2021, the Company divested Prosystems IT GmbH, a non-core, wholly owned European ERP business which resulted in a loss on sale of $3.9 million and a net cash consideration distribution of $4.7.

In the fourth quarter of 2021, the Company signed a divestiture agreement for its German reverse vending business. As of December 31, 2021, the transaction had not closed as it was pending the regulatory process; however, the agreement was finalized and all conditions for held-for-sale accounting were met. Accordingly, the Company has categorized the related assets and liabilities as held-for-sale as of December 31, 2021. An impairment loss was recorded in 2021 for $1.3 based on expected proceeds of approximately $10.0. The sale was completed as anticipated in the first quarter of 2022.

In 2020, the Company divested several non-core, non-accretive businesses, which resulted in a loss on sale of $11.5 for the year ended December 31, 2020.

In the first quarter of 2020, the Company divested Portavis GmbH, a non-core, non-wholly owned Eurasia Banking consulting business, which resulted in a gain of $1.8 and cash consideration received of $10.1, excluding cash divested. In the second quarter of 2020, the Company unconsolidated a portion of its non-wholly owned operations in China, which resulted in a loss of $8.6 and cash consideration received of $26.8 along with increased ownership in Inspur, from 40.0 percent to 48.1 percent. Additionally, the Company sold Cryptera A/S, a Danish subsidiary, which resulted in a loss of $5.9. In the fourth quarter of 2020, the Company sold an Italian non-core ERP Retail software asset, which resulted in a gain of $1.9 and cash consideration received of $3.2. Also in the fourth quarter of 2020, the Company sold a domestic Brazilian Banking software asset, which was impaired by $4.1 in the third quarter of 2020, and resulted in a fourth quarter loss on sale of $1.0 and cash consideration received of $7.9.