NCR Acquires Radiant Systems
NCR Corporation has finalized the acquisition of Radiant Systems, a multi-channel POS provider, through a cash tender offer of $28.00 per Radiant Systems share. The acquisition will strengthen NCR’s position in hospitality and specialty retail markets. Andrew Heyman, Radiant Systems’ Chief Operating Officer, will lead the new vertical. “This combination dramatically accelerates our capabilities on all of these initiatives,” said John Heyman, CEO at Radiant Systems. “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.”
“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. “Radiant Systems has delivered 15 percent 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.
DemandTec Sues Revionics
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DemandTec recently filed a complaint in the Superior Court of the State of California, County of San Mateo against Revionics, Inc. alleging libel, intentional interference with contractual relations and prospective economic advantage and unfair competition. The optimization network also filed a complaint in the Superior Court of the Commonwealth of Massachusetts, Middlesex County against a former DemandTec executive who recently joined Revionics for breach of contract, misappropriation of trade secrets, breach of duty of loyalty, fraud, and conversion. “We are intensely committed to the protection of our reputation, our confidential and proprietary information, and our trade secrets,” said Dan Fishback, President and CEO at DemandTec in a press release. DemandTec customers include leading retailers and consumer products companies such as Best Buy, The Home Depot, PETCO, Safeway, Sara Lee, Target and Wal-Mart.
