Georgia Atm Inc

NCR Jockeys for POS Position with $1.2 Billion Deal for Radiant Systems

Besides being the leading ATM maker, NCR already has a major point-of-sale presence in both unattended and attended grocery lanes and other merchant segments. It also makes the Blockbuster Express DVD-rental kiosks that compete with Coinstar Inc.’s Redbox kiosks. “Getting into food and hospitality is a big play,” says George Peabody, director of the emerging technologies advisory service at Mercator Advisory Group Inc. “There’s so much ferment going on in the retail payment space … [NCR] will be able to get some synergies that are pretty interesting.” Radiant and rival Micros Systems Inc. are not payment specialists in the way that terminal and payment software makers VeriFone Systems Inc., Hypercom Corp., and Ingenico are. In serving their merchant niches, however, both Radiant Systems and Micros provide payment-processing technology to such a degree that, in their annual reports, they list compliance with the Payment Card Industry data-security standard (PCI) as important aspects of their business. Radiant’s product list also includes loyalty and stored-value systems, “everything adjacent to the payment itself,” says Peabody. Radiant Systems claims to have 100,000 installations in worldwide, and it also has a host of so-called channel partners, or resellers. Major food-service customers include Chick-fil-a, Dunkin’ Donuts, Chipotle, California Pizza Kitchen, and Burger King. The company’s customer base also includes four international oil companies, including Shell and ExxonMobil, and six of the top 10 theater chains. NCR said Radiant would give it a so-called “third vertical” after its financial and retail business lines. Radiant’s chief operating officer, Andy Heyman, will head the new vertical. “The transaction accelerates NCR’s strategy of expanding into core industry adjacencies, increasing revenue growth rates and expanding margins by enhancing its mix of software and services,” NCR said in a news release late Monday. “NCR plans to leverage Radiant Systems’ leadership position in quick-service and table-service restaurants, specialty and convenience retailers and entertainment venues by combining Radiant Systems’ solution and services portfolio with NCR’s existing portfolio, brand, and global reach.” Radiant Systems posted total revenues of $87.1 million in the first quarter, up 10% from a year earlier. Hospitality customers in the Americas accounted for 60% of revenues followed by retail and entertainment merchants in the Americas at 26%. NCR had revenues of $1.1 billion in the first quarter, up 6%. “NCR management expects the combination with Radiant will help shift its revenue mix towards higher margin software and services given Radiant’s software delivery model and professional services, which make up 50% of Radiant’s revenue,” says a report on the deal by investment bank Goldman, Sachs & Co.

SunTrust Named United Way Global Corporate Leadership Partner ...

 SunTrust contributions to United Way during 2010 totaled $8.4 million, which includes more than $4 million pledged by SunTrust employees.  Through the bank’s Solid Gives Back volunteer program, SunTrust employees also provided over 100,000 volunteer hours in support of community organizations, including the United Way and its partner organizations.  This year, the bank reports it is on track to provide over 125,000 hours. 

 Global Corporate Leadership (GCL) partners make up an exclusive group of Fortune 500 companies committed to supporting United Way at the highest level. The program enables companies to foster positive change in their communities by contributing more than $1 billion to more than 1,200 local United Ways throughout the United States.  As part of this GCL partner designation, SunTrust and its teammates will meet defined annual giving goals and volunteerism efforts through service to United Way and its community partners across the bank’s footprint.

 “Helping build strong communities is a fundamental part of our rich history,” said William H. Rogers, Jr., SunTrust president and CEO. “Expanding our commitment to United Way as a Global Corporate Leader is a powerful expression of our mission – to help people and institutions prosper – and allows us to continue supporting positive, sustainable change that will have direct impact today and benefit future generations.”

an important, longstanding partner of United Way in communities throughout the country.  Their tremendous generosity is matched by their willingness to volunteer and play an active role in creating community solutions. We’re grateful for their ongoing leadership and greatly appreciate their commitment to building on our work together and creating an even more robust partnership.”

About SunTrust Banks, Inc. SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation’s largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients.  As of June 30, 2011, SunTrust had total assets of $172.2 billion and total deposits of $124.9 billion.  The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels.  The Company also serves clients in selected markets nationally.  Its primary businesses include deposit, credit, trust and investment services.  Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust’s Internet address is suntrust.com.

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