Under the terms of the agreement, Radiant will acquire substantially all of Aloha's assets for approximately $45 million. 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." 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. Jointly, we will be well positioned to lead the table-service market and serve nearly every major quick-service brand." In turn, Aloha's exceptional reseller channel for global customers will be crucial to Radiant's market strategy. 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. "We will combine the expertise and management of both Aloha and Radiant to continue to deliver our award-winning solutions to the hospitality industry. "The strengths of the combined company are the complementary products, markets and channels," Negreiro added. 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."
RADIANT ALOHA UDOCK SOFTWARE
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. "Radiant has had tremendous success delivering sophisticated technology to large quick-service restaurant companies, including brand-specific solutions for franchisees. "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. 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. 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. 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. Aloha CEO Manny Negreiro will run Radiant's new hospitality division, which will be based in Dallas, Texas. (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.
Creating a Foodservice Technology Powerhouse, the Two Companies Agree to Combine Strengths to Drive Topline Growth for Hospitality Operators
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