NYSE-listed NCR Corp. is bolstering its offering with the acquisition of Nasdaq-listed Radiant Systems.
The $1.2 billion acquisition is a vertical deal for NCR, augmenting its core transaction services offerings in the financial and retail markets with Radiant's exposure to the hospitality and specialty retail categories. The transaction will be executed through a cash tender offer for Radiant valued at $28.00 a share. The deal will be financed with roughly $100 million of cash from NCR's balance sheet and $1.1 billion of debt. JPMorgan, RBC Capital Markets, BofA Merrill Lynch and Morgan Stanley have signed on as lenders for the transaction.