NCR acquiring Radiant Systems
Duluth, Ga. — NCR Corp. will acquire Radiant Systems, a leading provider of multichannel point-of-sale and managed hosted service solutions to the hospitality and specialty retail markets, through a cash tender offer of $28.00 per Radiant Systems share. The equity purchase price of $1.2 billion has been approved by the boards of directors of each company.
It is expected the transaction will close during third quarter 2011, subject to regulatory approval.
The transaction accelerates NCR’s strategy of expanding into core industry adjacencies, increasing revenue growth rates and expanding margins by enhancing its mix of software and services. With the addition of Radiant Systems, NCR will create a third core industry vertical, after its Financial and Retail lines of business, and establish category leadership in the hospitality and specialty retail markets.
NCR plans to leverage Radiant Systems’ leadership position in quick service and table service restaurants, specialty and convenience retailers and entertainment venues by combining Radiant Systems’ solution and services portfolio with NCR’s existing portfolio, brand and global reach.
The hospitality and specialty retail total addressable markets are approximately $8 billion in size and under-penetrated by industry leaders, according to NCR.
Key members of the Radiant Systems management team will play integral roles in strengthening NCR’s position in hospitality and specialty retail, including Andrew Heyman, currently Radiant Systems’ COO, who will lead the new vertical. The two companies anticipate a seamless transition for customers, channel partners and employees.
Supervalu-owned Albertsons not removing self-checkout lanes
Minneapolis — Supervalu on Monday that it is not removing the self check-out lanes from the 460 Albertsons stores that it owns and operates in Idaho, Oregon, Montana, Nevada, Southern California, Utah, Washington state and Wyoming.
Last week it was reported that Albertsons LLC, a separate entity that owns and operates 217 stores in Arizona, Arkansas, Colorado, Florida, Louisiana, New Mexico, Texas and Utah, decided to remove self check-out lanes from its stores. The Albertsons stores owned by Supervalu will continue to provide self-checkout lanes for the convenience of its customers.
Starbucks announces management changes
Seattle — Starbucks said Monday that it is dividing responsibilities for its business into three global regions (instead of the current two, U.S. and international) in order to accelerate global growth.
The company has appointed three of its executives to lead the three regions: Asia; the Americas: and the combination of Europe, the Middle East and Africa.
Cliff Burrows will expand his current role as president, Starbucks U.S. to president, Americas, with responsibility for the United States, Canada, Mexico and Latin America.
Michelle Gass has been named president, Starbucks EMEA. In this role, Gass will provide overall leadership to Starbucks company-operated markets in this region: the United Kingdom, France, and Germany. John Culver has been named president, Starbucks China and Asia Pacific.
All three new regional presidents — Burrows, Culver and Gass — will report to CEO Howard Schultz.