NCR is buying Radiant Systems, a company that develops point-of-sale systems and software to the hospitality and specialty retail industries, for $1.2 billion in cash, or $28.00 per share. The deal is expected to close during the third quarter of 2011. NCR says it will raise approximately $1.1 billion of new funded debt to finance the transaction.
Radiant’s SaaS caters to a variety of industries and markets including stadiums, arenas, cinemas, restaurants, gas stations, convenience stores, museums, wine and liquor stores and other speciality retail stores. The company offers hardware includes point of sale systems, kiosks, customer displays, terminals, servers and more. Radiant says it more than 100,000 installations worldwide.
NCR is using Radiant Systems to expand into another software vertical, in addition to its financial and retail businesses. NCR developers security technologies for the financial services market, retail technologies and sells self-service kiosks to the retail and hospitality, travel and gaming, healthcare, and entertainment industries. In 2009, NCR bought DVD-rental kiosk company DVDPlay.