$1.2bn deal excludes costs associated with the repayment of Radiant’s outstanding debt
Technology company NCR has completed its acquisition of Radiant Systems through a merger.
Radiant, a provider of technology to the hospitality and retail industries, is now a wholly owned subsidiary of NCR.
The aggregate value of the transaction totaled approximately $1.2bn, excluding costs associated with the repayment of Radiant’s outstanding debt and fees related to the transaction.
Prior to the merger, NCR acquired approximately 87% of Radiant’s outstanding shares in connection with its previously announced tender offer. NCR also exercised its option to purchase additional shares of Radiant common stock that resulted in NCR owning one share more than 90% of the outstanding shares of Radiant, in order for NCR to perform a "short form" merger under Georgia law.
NCR Chairman and CEO Bill Nuti said, "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."
"Combining NCR’s global footprint and services capabilities with Radiant’s advanced software and strong channel partner network will create a superior portfolio of multi-channel solutions and bring new value to customers, while accelerating long-term growth."
J.P. Morgan Securities LLC and Atlas Strategic Advisors, LLC acted as financial advisors and Womble Carlyle Sandridge & Rice, PLLC provided legal advice to NCR.
With the completion of the acquisition, Radiant’s common stock ceased to trade on the NASDAQ Global Select Market.