DULUTH, GA�? NCR Corporation and Radiant Systems Inc. announced an agreement for NCR to acquire Radiant Systems, provider of multichannel point-of-sale and managed hosted service solutions to the hospitality and specialty retail markets, including convenience and fuel retail locations.
According to a press release, the transaction accelerates NCR?s strategy of expanding into core industry adjacencies, increasing revenue growth rates and expanding margins by enhancing its mix of software and services. Radiant Systems? market-leading software and Software as a Service (SaaS) capabilities will significantly enhance NCR?s solutions, creating a superior portfolio of multichannel point-of?service and self-service solutions. NCR will use its global sales, services and operations organizations to extend this portfolio to many of the fastest-growing markets in the world, while driving supply chain, operational and innovation synergies. Market coverage will be enhanced by Radiant Systems? strong channel partner network, which will complement NCR?s channel and support its goal of building a world-class channel partner network.
?Radiant Systems is a logical and strategic extension for NCR, moving us into attractive fast-growth adjacent markets,? said NCR Chairman and CEO Bill Nuti. ?Radiant Systems has delivered 15 percent compounded annual revenue growth over the last five years, along with impressive margin expansion as a result of the high customer demand for its expansive software offerings. This acquisition will enable our companies to accelerate expansion through the powerful combination of each other?s strengths and NCR?s track record of driving transformational change. We will bring together two strong teams with Radiant Systems playing a vital role in enhancing our long-term growth, margin expansion and earnings appreciation.?�
?Radiant Systems? growth strategy has always focused on taking great care of our customers, delivering leading innovation to our industries and continuing to expand our market presence across our industries and around the globe,? said John Heyman, CEO Radiant Systems. ?This combination dramatically accelerates our capabilities on all of these initiatives. NCR?s global footprint, brand recognition and track record of innovation will help us achieve our strategic aspirations and create even more value for our customers. Importantly, both NCR and Radiant Systems share a vision that these accomplishments start with a common ingredient?great people to execute on the vision.?
Radiant's management team will have integral roles in strengthening NCR?s position in hospitality and specialty retail, including Andrew Heyman, currently COO of Radiant, who will lead the new vertical. The two companies anticipate a seamless transition for customers, channel partners and employees.
The tender offer is expected to commence on or before July 25. The offer will be open for a period of not less than 20 business days from its commencement and will be conditional upon, among other things, valid acceptances of the offer in respect of shares representing more than 50 percent of the outstanding Radiant Systems shares on a fully diluted basis as well as satisfactory completion of other customary closing conditions, including regulatory approval.
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