Blackstone has entered into an agreement to invest $820 million in NCR (NYSE: NCR), a provider of consumer transaction technologies. As outlined in the deal, Blackstone will purchase $820 million of convertible perpetual preferred stock, convertible into NCR common stock at a conversion price of $30.00 per share. The capital injection will be used by NCR to help support a repurchase of up to $1 billion of its common shares at between $26.00 and $29.50 per share. On an as-converted basis, the preferred stock will represent approximately 17% of NCR's shares outstanding after giving effect to the Blackstone investment and share repurchase. NCR enables over 485 million transactions daily across the financial, retail, hospitality, travel, telecom and technology industries. The transaction is expected to close by early December.