Radiant Systems to acquire ReMACS as part of mergeragreement; combined entity to provide the premiere offering forcomprehensive food service technology solutions.
ATLANTA--(BUSINESS WIRE)--May 16, 1997--Radiant Systems Inc. (NASDAQ:RADS), a leading provider of integrated technology solutions to retailers worldwide, is pleased to announce that it has entered into a merger with ReMACS (Restaurant Management and Control Systems) Inc., of Pleasanton, Calif.
ReMACS is a leading provider of back office and corporate management systems to the food service industry, with over 12,000 sites installed with customers such as Boston Market, Ruby Tuesday's, Dunkin' Donuts, Longhorn Steaks, and large franchisees of Applebee's, Burger King, KFC, Arby's and Taco Bell. The transaction is expected to close by May 28, 1997.
Radiant's Quick Service Restaurant business will be combined with ReMACS into Radiant Hospitality Systems, a new operating division of Radiant Systems Inc. The ReMACS software for Restaurant and Chain Restaurant Headquarters management will be fully integrated with Radiant's Touch Screen Point of Sale (POS) and Customer Activated Terminals (CAT), as well as Twenty/20 Visual Systems' Touch-Screen POS, resulting in an integrated, single source solution for all aspects of Food Service Automation.
Radiant Hospitality Systems will provide a full suite of high quality, innovative technology solutions to all sectors of the food service business, ranging from multiunit operators to high-volume independent restaurants.
"We believe that the formation of Radiant Hospitality Systems will significantly leverage both Radiant's and ReMACS' strengths, and strategically position the company as the premiere provider of comprehensive, automated solutions to the food service industry," said Erez Goren, CEO of Radiant Systems Inc.
"We are extremely pleased to be merging with Radiant," said Dave Douglas, president and founder of ReMACS, who will assume the position of president of Radiant Hospitality Systems. "Our goal, in combining with Radiant and establishing this new Hospitality division, is to provide customers with the best of breed, single source, front-of-the-house and back office solution. Radiant's and ReMACS' solutions will be fully integrated under a common development platform to ensure a seamless solution."
Radiant and ReMACS Inc. complement each other in a number of ways. Radiant is recognized as a leader in Customer Activated Terminals and Touch Screen POS systems. ReMACS is recognized as the premiere provider of Back Office and Corporate Office Management and Control Systems for the food service industry. ReMACS' software complements Radiant's product line by providing critical back-of-the-house components for Inventory Control, Food Cost Analysis, Time and Attendance, Labor Scheduling, Business Forecasting, and Financial Management that food service operators utilize to reduce their costs and increase return on investment. In addition, Radiant and ReMACS share a common product development model, supporting Microsoft Windows standards.
