NCR agrees to acquire Radiant Systems for $1.2B
Technology company NCR Corp. says it has agreed to buy Radiant Systems Inc. for $1.2 billion in cash.
NCR said Monday it will make a cash tender offer of $28 for every share of Radiant Systems, an Alpharetta, Ga., company that makes hardware and software systems used to manage restaurants and hotels.
At that price, the tender offer represents a 28 percent premium over the Friday's closing price of Radiant System's stock at $21.95.
The tender offer is expected to begin on July 25.
The companies' boards of directors have approved the deal, which is expected to close in the third quarter.
NCR, based in Duluth, Ga., estimates that the deal will accelerate its revenue growth and contribute to earnings next year.