Radiant to buy Aloha Technologies
Radiant Systems Inc., based here, entered a deal to acquire Aloha Technologies, a provider of point-of-sale systems for the hospitality industry, for $45 million. As part of the agreement, Radiant said it would form a new hospitality division led by Aloha chief
December 14, 2004
ATLANTA (Dec. 15)- Radiant Systems Inc., based here, entered a deal to acquire Aloha Technologies, a provider of point-of-sale systems for the hospitality industry, for $45 million.As part of the agreement, Radiant said it would form a new hospitality division led by Aloha chief executive Manny Negreiro. Radiant said the new Dallas-based division's staff would include "key personnel" from both companies. The purchase price consists of $11 million of cash, $18.7 million of notes, whose terms range from one to five years, and approximately 2.4 million shares of restricted common stock. The acquisition is expected to close early in the first quarter of 2004, company sources said. Radiant said it 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.
