Private equity firms Blackstone and Carlyle Group have teamed up to make a $10 billion bid for cash machine vendor NCR, according to Reuters.

Citing sources, Reuters says that Blackstone and Carlyle are working to outbid other PE firms and secure a leveraged buyout worth more than $10 billion, including debt.



Any deal is still weeks off completion and the consortium could miss out to a rival such as Apollo Global Management or Thoma Bravo, if NCR agrees to a sale at all, say Reuters' sources.



Nevertheless, the news saw shares in ATM and cash register giant NCR close the day up $3.36, or 10.7%, at $34.73.



Having seen first quarter revenue fall three per cent, the firm has been under shareholder pressure to explore its options.



The ATM market has faced a tough time over the last few years as the credit crisis hit bank budgets and customers migrated to digital channels.



Last week reports surfaced that rival Diebold was in talks to buy Germany's Wincor Nixdorf, although the latter poured cold water on the claims.