NCR ready to set Teradata free

NCR has set a date for its Teradata spin-off.

In a statement Tuesday, NCR said it will spin off its Teradata data warehousing unit on Sept. 30. NCR shareholders as of Sept. 14 will receive shares of Teradata. The distribution will be tax free.

Teradata will then trade under the ticker "TDC."

As an independent company Teradata should continue to perform well. You could argue that NCR's acquisition of Teradata was probably one of the better moves the company made. Mike Koehler, who will be Teradata’s CEO following the spin-off, said: "I thank the entire Teradata and NCR teams for the extraordinary efforts they have made to get us to this point, as we prepare for the next chapter in our long and proud history."

More Teradata related reading:

• Lowe's big plan.
• Joshua Greenbaum: NCR Exits the Data Warehouse Market: See You Later, Teradater?
• Data warehousing resources.""="">