NCR Company Purchases Radiant Systems
The Aloha POS System just got stronger by the major purchase of Radiant Systems by NCR.
The price has been approved by both companies’ boards and the deal is expected to close this quarter, subject to regulatory approval. The acquisition gives NCR an entrée to the food service, hospitality and specialty retail markets, where Radiant has a significant presence, encompassing 100,000 customer installations worldwide.
For NCR, these new markets create a third core industry vertical to accompany its established positions in the financial and retail markets.
NCR is a leading manufacturer of ATMs and self-service checkout solutions, and its corporate roots go back to the very first point-of-sale hardware, cash registers. The company’s current name was derived from the initials for National Cash Register, founded in 1884.
“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 in a statement. “Radiant Systems has delivered 15% 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.”
Key members of the Radiant Systems management team will play integral roles in strengthening NCR’s position in hospitality and specialty retail, including Andrew Heyman, currently Radiant’s COO, who will lead the new vertical. “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,” said Radiant Systems CEO John Heyman.