Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Radiant Systems (Nasdaq: RADS) popped a whopping 32% in intraday trading today after NCR (NYSE: NCR) announced that the two companies have agreed to a takeover of Radiant by NCR.

So what: Both companies' boards have approved the deal at $28 per share, a total of $1.2 billion. Yesterday, Radiant stock closed at $21.45.  The deal is expected to close during the third quarter.

Now what: It's an unusually large acquisition for NCR, which plans to issue $1.1 billion of new debt to finance the purchase. The two companies are in related businesses, which helps reduce deal risk. NCR's automated checkout products include ATMs and self-check-in airport kiosks and Radiant provides site management solutions for restaurants, retailers, and entertainment venues.

Interested in more info on Radiant? Add it to your watchlist by clicking here.

Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.