AOL Sets Services Pact With Radiant
DULLES, Va. (Reuters) - America Online Inc. (NYSE:AOL - news) Tuesday unveiled a retail services development pact with technology company Radiant Systems Inc. (Nasdaq:RADS - news), and said it would make an unspecified investment in Radiant Systems.
Under the multi-year agreement, the companies will develop consumer interactive services for use on point-of-sale devices, potentially enabling consumers to receive e-mail while refueling at a gas station or read the news while eating in a restaurant.
Shares of Atlanta-based Radiant surged after the news was released, jumping to 22-3/4 a share, its highest level in the past 52-weeks, before trading at about 21-1/4, up 5-1/16, or about 31 percent, from Monday's close.
In conjunction with the deployment of Radiant's point-of-sale products, several of AOL's brands will deliver services to high-traffic retail establishments worldwide.
For example, AOL will integrate its AOL Moviefone movie listing guide and ticketing service into Radiant hardware and software systems for the movie theater industry, AOL said.
AOL said the pact is an example of its 'AOL Anywhere' strategy, which seeks to make the company an integral part of people's lives. This partnership also provides AOL with promotional opportunities at the retail level.
Radiant Systems provides systems to retailers, including fuel service stations, convenience stores, restaurants and entertainment venues. |
