On the same day Verizon and Redbox announced it had formed a partnership to create a new video streaming service, Redbox appeared a second time with another announcement. Redbox has agreed to purchase assets from NCR Corporation. NCR Corporation specializes in operating a range of self-service kiosks including Blockbuster Express.
The deal is worth up to $100 million. For its money, Redbox is getting DVD kiosks, DVD inventory and contracts with unspecified retail partners. Redbox’s parent company Coinstar will be obligated to purchase products and services from NCR once the transaction is finalized during the third quarter of 2012.
The obvious question here is what will happen to the Blockbuster Express kiosks. We’ve asked the folks at Blockbuster that very question and will update you when we learn more.