NASDAQ-listed software vendor Radiant Systems has acquired Melbourne retail software developer Breeze Software.
Atlanta-based Radiant Systems is looking to expand into international markets, and considers the acquisition a way of getting a foot in the door of the Asia-Pacific market. The buy gives the US vendor access to experienced local technical staff, and a client base that includes Mobil Oil Australia, Shell Australia and BP Australia.
The transaction will be for the purchase of all the issued and outstanding capital stock of Breeze software. It is expected to close before May 30, 2001. Breeze software's three private owners refused to disclose the value of the acquisition.
Radiant Systems develops similar software to its newly acquired Australian developer, focusing on retail automation software for Petroleum convenience stores. These stores account for 50 per cent and 65 per cent of Radiant Systems' and Breeze Software's revenues respectively.
"Its an excellent fit in that sense," said Andrew Clarkson, sales and marketing manager at Breeze Software.
Radiant Systems has no presence in Australia, but runs a branch in Singapore.
"The existing Breeze business will run as is in its current office, but it will become a branch of Radiant Systems," Clarkson said.
Radiant has indicated there is no need for staff attrition as a result of the acquisition, and if anything the Australian branch will be employing more staff as it expands operations into the Asian region.
"We have grown as much as we could for a local software developer," said Clarkson. "The big positive for us is a big infusion of cash and the ability to focus on developing segments of products that will reach global markets."