News

Radiant pursuing divestment of software biz

August 20, 2003

ALPHARETTA, Ga. -- Radiant Systems, provider of site-management technology for the retail and hospitality industries, is pursuing a divestment of the company's Enterprise Software business, as expected.

According to a report on NorthFulton.com,Radiant is responsible for such innovations as the pay-at-the-pump credit and debit card system available at almost every gas station. Its software calculates every facet of a business's accounting, from the point of sale to ordering for new product.

With the split, Radiant Systems will remain a public company focused on site management systems that includes point-of-sale, self-service kiosk, and back-office systems, the report said. See related story, "Radiant Systems posts Q2 loss, looks to shift biz."

A new yet-to-be named private business will be created from the divestment focusing on Web-based back-office solutions such as workforce and supply chain management to serve the retail market.

Radiant Systems was co-founded by brothers Erez and Alon Goren who, with this move, will go their separate ways. Alon will remain chief technology officer and chairman of the board of directors at Radiant Systems, but Erez will leave his post as co-CEO to own and operate the new company, according to the report.