Technology solutions developer NCR has entered into a new definitive agreement with provider of retail software and services Retalix for $650m to expand its footprint in the retail sector.

Israeli-based Retalix provides software and services to retailers, including supermarkets, convenience stores, fuel stations, drugstores and department stores.

As per the terms of the transaction, NCR will pay $30 for each of Retalix share’s and the technology company believes will help will capitalize on the integration of Radiant Systems into its suite of of solutions.

NCR Chairman and CEO Bill Nuti said, "Retalix’s market-leading software and services capabilities will enhance NCR’s retail solutions, creating a world-class portfolio of offerings.

"That innovation plus the addition of exceptional talent to our team positions NCR as the global leader in retail innovation."

Retalix addition will enable additional sales opportunities across the combined installed base.

NCR also intends to avail Retalix’s software to accelerate the development of NCR’s enterprise software platform, creating new software modules that can be used across the retail industry and leveraged across NCR’s financial, travel and hospitality industries on a global scale.

The transaction is expected to be complete by March 2013 and will be financed through a combination of cash and debt.

Retalix Chief Executive Officer Shuky Sheffer remarked, "Together, we will create a talent pool and solutions portfolio that will be richer than anything available before, enabling our customers to deliver a superior omni-channel shopping experience."

Retalix’s software and services are deployed in over 70,000 retail locations with more than 400,000 customer touch points in over 50 countries that transact billions of dollars in annual sales across its platform.