NCR Corporation announced that it completed its
acquisition of Radiant Systems through a merger, with Radiant becoming a wholly
owned subsidiary of NCR.
This acquisition is another demonstration of NCR’s
strategy to expand into high-margin adjacencies and new industry segments, and
is a major milestone towards the realization of our long-term business goals,”
said Bill Nuti, chairman and CEO, NCR.
Combining NCR’s global footprint and services
capabilities with Radiant’s software and strong channel partner network will
create a portfolio of multi-channel solutions and bring new value to customers,
while accelerating long-term growth.
Prior to the merger, NCR acquired approximately 87
percent of Radiant’s outstanding shares (including all shares subject to
guarantees of delivery) in connection with its previously announced tender
NCR also exercised its option to purchase additional
shares of Radiant common stock that resulted in NCR owning one share more than
90 percent of the outstanding shares of Radiant, in order for NCR to perform a
short form” merger under Georgia law.
The aggregate value of the transaction totaled
approximately $1.2 billion, excluding costs associated with the repayment of
Radiant’s outstanding debt and fees related to the transaction.
Recently, NCR launched
the NCR SelfServ Bill Pay Kiosk hardware, software and managed services
payment solution with SIM card dispensing in the Middle East and Africa (MEA)
region to meet the needs of fast-growing telecoms companies.
The self-service solution enables consumers to quickly
and easily purchase SIM cards, top up pre-paid mobiles and pay bills by cash,
credit or debit card. Major telecom providers in the Middle East are already
using the solution.
By Telecomlead.com Team