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Radiant Systems Acquires Jadeon, Inc.
Radiant strengthens service capabilities through acquisition of Irvine, Calif.-based point of sale systems and services provider.
ATLANTA, (May 2, 2008) — Radiant Systems, Inc. (Nasdaq: RADS), a leading provider of innovative technology to the hospitality and retail industries, announces today the acquisition of Jadeon, Inc., a wholly owned subsidiary of Innuity, Inc. (OTCBB: INNU). Jadeon is a full-service point of sale (POS) solutions provider to the hospitality industry.
“This acquisition enhances Radiant’s ability to service several larger, key customers,” said John Heyman, chief executive officer of Radiant Systems. “While we are strengthening our presence on the West Coast through this acquisition, we remain committed to our reseller model as the best way to serve the vast community of small and medium-sized businesses across the nation and around the world.”
Jadeon offers fully integrated hardware and software solutions for quick service and table services restaurant operators. Headquartered in Irvine, Calif., Jadeon adds 100 employees to Radiant’s presence in Orange County, bringing the total to more than 150 personnel. Since its founding in 2001, Jadeon has installed more than 3,000 point of sale systems and also provides consulting services and a complete suite of maintenance offerings, including on-site field service and a 24x7 call center.
“Jadeon has been a long-standing partner of Radiant Systems and we’re proud to join forces with the company," said Stephen Ferrante, president and chief operating officer of Jadeon. “Radiant’s solutions provide great value to Jadeon’s customers and we look forward to continuing to serve them with exceptional results."
About Radiant Systems, Inc.
Headquartered in Atlanta, Radiant Systems, Inc. (Nasdaq: RADS) is a global provider of innovative technology to the hospitality, retail and entertainment industries. For more than two decades, Radiant's point of sale hardware and software solutions have redefined the consumer experience in more than 100,000 restaurants, retail stores, stadiums, parks, arenas, cinemas, convenience stores, fuel centers and other customer-service venues. Radiant has offices in North America, Europe, Asia and Australia. For more information, visit www.radiantsystems.com.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are the Company’s reliance on a small number of clients for a large portion of its revenues, fluctuations in its quarterly results, its ability to continue and manage its growth, liquidity and other capital resources issues, competition and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
