ALPHARETTA Ga. Radiant Systems Inc., based here, said it acquired Orderman GmbH of Salzburg, Austria, which markets itself as the worldwide leader in the manufacturing of wireless, handheld ordering terminals for the hospitality industry.
The deal was valued by publicly traded Radiant in documents filed with the U.S. Securities & Exchange Commission at $30.9 million, with that amount subject to adjustment after the closing based on the net assets of Orderman as defined in the purchase agreement. Radiant, a global supplier of point-of-sale system hardware and software, as well as back-office and enterprise-management applications and services, said it funded the acquisition with borrowings under its expanded revolving credit facility and cash on hand.
"Orderman's innovative, mobile devices are widely recognized in the European hospitality marketplace," said John Heyman, Radiant's chief executive. "This acquisition puts Radiant in an excellent position to further accelerate the adoption of mobile devices in the global hospitality sector and to bring additional innovations to market across all of the industries we serve."
The order transmission and payment processing terminals produced by Orderman differ from most, if not all, such devices sold in the United States in that they use radio technology to transmit data, as opposed to wireless networking protocols and systems.
Though the company has a limited presence in the United States, Orderman says its network of more than 600 resellers, primarily located in Europe, has deployed approximately 50,000 terminals to more than 20,000 restaurants in 45 countries, where they process millions of transactions per day. The supplier's clientele includes arena, stadium and ski resort operators.
"We view Orderman's reseller network as a strategic asset that will accelerate Radiant's growth in Europe," Heyman said.
Radiant Systems officials said Orderman's Salzburg base has become Radiant's global center for mobile devices, with Orderman's existing senior leadership managing the organization.