Radiant Systems Up 30% On Buyout

Radiant Systems, Inc. RADS shares are soaring today, gaining more than 30% after company agreed to be purchased by NCR Corp. NCR for $1.2 billion in cash. NCR said it would make a cash tender offer of $28 for every share of Radiant Systems, about inline with where shares of Radiant are currently trading. "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 in a joint statement. “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. This acquisition will enable our companies to accelerate expansion through the powerful combination of each other's strengths and NCR's track record of driving transformational change. We will bring together two strong teams with Radiant Systems playing a vital role in enhancing our long-term growth, margin expansion and earnings appreciation.” At last check, shares of RADS were trading at $28.02, while shares of NCR are off 40 cents to $18.69, a loss of 2.1%.