Acquisition accelerates Zebra’s Enterprise
Asset Intelligence vision by expanding its growing retail and
consumer packaged goods (CPG) software portfolio
Zebra Technologies (NASDAQ: ZBRA), an innovator at the front
line of business with solutions and partners that deliver a
performance edge, today announced it intends to acquire antuit.ai,
a provider of artificial intelligence (AI)-powered
Software-as-a-Service (SaaS) solutions specific to forecasting and
merchandising for the retail and CPG industries.
Antuit.ai, owned by a consortium led by Goldman Sachs Asset
Management, utilizes AI and machine learning algorithms to ensure
its customers have the right product in the right place, at the
right time, at the right price based on the current state of the
supply chain, store inventory, and consumer demand. Incorporating
antuit.ai’s AI-powered demand forecasting solution into Zebra’s
SaaS portfolio will enable retailers and consumer products
companies to combine planning and execution to optimize margins and
drive revenue growth.
Antuit.ai enables retailers to deliver on their omnichannel
strategy by increasing margins with effective prices and
promotions, as well as optimizing inventory allocations and order
fulfillment. With antuit.ai, consumer products companies can
maximize forecast accuracy; anticipate consumer demand to meet
retailers’ service level, shelf-level, store-level, and e-commerce
orders; optimize pricing and trade promotions; and unify sales,
trade and demand planning.
“Through its synergies with our retail store execution
portfolio, the acquisition of antuit.ai will further drive our
ability to bring the power of AI to our customers, and meet the
demands of today’s consumer,” said Anders Gustafsson, Chief
Executive Officer of Zebra Technologies. “It will also enable us to
offer our customers in the CPG industry an analytics, AI and
automation solution that supports more efficient planning and
operations with greater visibility across the supply chain. We are
excited to welcome the antuit.ai team to the Zebra family.”
Antuit.ai will be the third SaaS company acquired by Zebra that
has been recognized as a top solution provider in the RIS Software
Leaderboard over the last two years. It will serve as the planning
and demand forecasting module within Zebra’s growing retail
software portfolio, alongside the analytics and execution solutions
currently delivered by Zebra Prescriptive Analytics (ZPA, formerly
Profitect) and Reflexis’ Workforce Management and Task Management
solutions.
Zebra’s comprehensive retail software portfolio also includes
Workforce Connect, a communication and collaboration solution for
front-line workers, and SmartCount, a self-directed solution for
physical inventory and cycle counts. Together, these solutions help
leading retailers across the world achieve even higher levels of
performance within their top two expenditures - labor and
inventory.
“The antuit.ai team is excited to join Zebra and will add
immediate value by bringing innovation, AI talent and industry
experts to help our combined customers optimize inventory, maximize
fill rates and increase efficiencies,” said antuit.ai’s co-CEO Siva
Lakshmanan. “Our AI solutions will influence planning and bridge
the gap to execution, enhancing Zebra’s retail and CPG solutions
that address associate productivity and inventory management,” said
co-CEO Yogesh Kulkarni of antuit.ai.
Zebra’s value proposition to consumer products companies will
grow significantly with the addition of antuit.ai alongside the
recent launch of its fixed industrial scanning and machine vision
portfolio, its acquisition of graphical machine vision software
provider, Adaptive Vision, and its recent acquisition of Fetch
Robotics.
“Zebra’s focus on visibility and productivity will be enhanced
by the acquisition of antuit.ai and expand our customer offerings,”
said Bill Burns, Chief Product & Solutions Officer, Zebra
Technologies. “With the addition of antuit.ai, Zebra’s growing SaaS
portfolio will have a stronger, more attractive value proposition
for customers looking for solutions that include advanced planning
capabilities alongside the dynamic optimization of labor and
inventory across the supply chain.”
Zebra’s go-to-market footprint and vertical market expertise is
expected to create substantial synergies as Zebra integrates and
invests in the business. Zebra expects to fund the purchase price
with cash on hand. The transaction is subject to customary closing
conditions, including regulatory approval and is expected to close
in 2021. Zebra expects this transaction to have an immaterial
impact to earnings in 2021.
Jenner & Block LLP is serving as legal counsel to Zebra.
Goodwin Procter LLP is acting as legal counsel and Mizuho
Securities USA LLC is acting as financial advisor to antuit.ai.
Zebra Technologies Safe Harbor Statement
This press release contains forward-looking statements, as
defined by the Private Securities Litigation Reform Act of 1995,
including, without limitation, the statements regarding the
company’s outlook and the ability to complete the acquisition of
Antuit.Ai. Actual results may differ from those expressed or
implied in the company’s forward-looking statements. These
statements represent estimates only as of the date they were made.
Zebra undertakes no obligation, other than as may be required by
law, to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, changed
circumstances or any other reason after the date of this
release.
These forward-looking statements are based on current
expectations, forecasts and assumptions and are subject to the
risks and uncertainties inherent in Zebra’s industry, market
conditions, general domestic and international economic conditions,
and other factors. These factors include customer acceptance of
Zebra’s hardware and software products and competitors’ product
offerings, and the potential effects of technological changes. The
continued uncertainty over future global economic conditions, the
availability of credit and capital markets volatility may have
adverse effects on Zebra, its suppliers and its customers. In
addition, a disruption in our ability to obtain products from
vendors as a result of supply chain constraints, natural disasters
or other circumstances could restrict sales and negatively affect
customer relationships. Profits and profitability will be affected
by Zebra’s ability to control manufacturing and operating costs.
Because of its debt, interest rates and financial market conditions
will also have an impact on results. Foreign exchange rates will
have an effect on financial results because of the large percentage
of our international sales. The outcome of litigation in which
Zebra may be involved is another factor. The success of integrating
acquisitions could also affect profitability, reported results and
the company’s competitive position in its industry. These and other
factors could have an adverse effect on Zebra’s sales, gross profit
margins and results of operations and increase the volatility of
our financial results. When used in this release and documents
referenced, the words “anticipate,” “believe,” “outlook,” and
“expect” and similar expressions, as they relate to the company or
its management, are intended to identify such forward-looking
statements, but are not the exclusive means of identifying these
statements. Descriptions of the risks, uncertainties and other
factors that could affect the company’s future operations and
results can be found in Zebra’s filings with the Securities and
Exchange Commission, including the company’s most recent Form
10-K.
ABOUT ANTUIT.AI
Serving Fortune 1000 companies globally, antuit.ai is rethinking
the way consumer products and retail companies use AI to solve real
business problems. Antuit.ai offers solutions that inform the most
important business decisions, from supply chain to merchandising to
marketing, empowering world-class retailers and consumer products
companies to digitally transform their businesses to achieve
substantial business results. To learn more, visit
www.antuit.ai.
ABOUT ZEBRA TECHNOLOGIES
Zebra (NASDAQ: ZBRA) empowers the front line in
retail/ecommerce, manufacturing, transportation and logistics,
healthcare, public sector and other industries to achieve a
performance edge. With more than 10,000 partners across 100
countries, Zebra delivers industry-tailored, end-to-end solutions
to enable every asset and worker to be visible, connected and fully
optimized. The company’s market-leading solutions elevate the
shopping experience, track and manage inventory as well as improve
supply chain efficiency and patient care. In 2020, Zebra made
Forbes Global 2000 list for the second consecutive year and was
listed among Fast Company’s Best Companies for Innovators. For more
information, visit www.zebra.com or sign up for news alerts.
Participate in Zebra’s Your Edge blog, follow the company on
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Perspectives.
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version on businesswire.com: https://www.businesswire.com/news/home/20210830005060/en/
Investor Contact: Mike Steele, CFA, IRC Zebra
Technologies +1-847-793-6707 msteele@zebra.com Media
Contact: Therese Van Ryne Zebra Technologies +1-847-370-2317
therese.vanryne@zebra.com
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