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`http://www.bsminfo.com/doc/radiant-systems-to-acquire-aloha-technologies-0001
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`News | December 18, 2003
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`Radiant Systems To Acquire Aloha Technologies
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`Radiant Systems, Inc. (NASDAQ:RADS) today announced that it has entered into a definitive
`agreement to acquire Aloha Technologies, a leading provider of point-of-sale (POS) systems for the
`hospitality industry. Aloha CEO Manny Negreiro will run Radiant's new hospitality division, which
`will be based in Dallas, Texas. The new division is expected to be one of the premier technology
`providers for the hospitality industry, with key personnel from both Radiant and Aloha continuing to
`serve the industry under Negreiro's leadership.
`With this expansion, Radiant aims to greatly enhance its presence in the industry, offering
`comprehensive solutions from advanced POS systems to self-service kiosks, customer loyalty
`systems, and integrated back-office solutions. With proven experience in large-scale enterprise
`deployments and an expansive reseller channel, Radiant will be well positioned to offer the leading
`solution for quick-service, table-service, and contract foodservice operators, from the largest multi-
`national chains to single-site businesses.
`"We find companies are eager to replace their older, limited legacy systems with innovative new
`technologies that help drive topline growth," said Radiant CEO John Heyman. "Radiant has had
`tremendous success delivering sophisticated technology to large quick -service restaurant companies,
`including brand-specific solutions for franchisees. Aloha has had similar success delivering feature-
`rich, easy-to-use POS software and other table-service and quick-service solutions for the mass
`market through a channel of more than 125 value-added resellers. We share a common vision with
`Aloha, and by uniting our products, resources, partners and talent, we can accelerate the delivery of
`innovative products to help customers significantly grow their revenue."
`"The strengths of the combined company are the complementary products, markets and channels,"
`Negreiro added. "We will combine the expertise and management of both Aloha and Radiant to
`continue to deliver our award-winning solutions to the hospitality industry. Radiant will enhance the
`Aloha solution with a global service infrastructure and key technologies such as self -service kiosks,
`centralized administration, comprehensive back-office systems, and advanced POS hardware. In
`turn, Aloha's exceptional reseller channel for global customers will be crucial to Radiant's market
`strategy. Jointly, we will be well positioned to lead the table-service market and serve nearly every
`major quick-service brand."
`Heyman continued, "In addition, we plan to leverage Aloha's key innovations such as their eCard
`loyalty and gift card systems in our other markets. By joining forces, we believe we are on a clear
`path to becoming the number one foodservice technology provider in the world while also improving
`our ability to better serve the petroleum and convenience store and entertainment industries."
`Under the terms of the agreement, Radiant will acquire substantially all of Aloha's assets for
`approximately $45 million. The purchase price consists of $11 million of cash, $18.7 million of note s,
`whose terms range from one to five years, and approximately 2.4 million shares of restricted
`common stock.
`Radiant expects Aloha to contribute between $20 million and $28 million in revenue in 2004 and
`expects the acquisition to be accretive to earnings in 2004. The acquisition is expected to close early
`in the first quarter of 2004. This acquisition is expected to have no impact on Radiant's previously
`announced split-off of its enterprise software business and is not contingent upon the closing of that
`transaction.
`About Radiant Systems
`Founded in 1985, Radiant Systems, Inc. provides innovative store technology for the foodservice,
`petroleum and convenience store, and cinema industries. Radiant's point-of-sale, self-service kiosk,
`and back-office technology enables operators to drive topline growth and improve bottom-line
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`performance. Headquartered in Atlanta, Radiant (www.radiantsystems.com) has deployed its
`solutions in more than 50,000 sites worldwide.