Zebra Technologies Corp. has acquired Hart Systems, a provider of cloud-based inventory management system, from private equity firm Topspin Partners LBO for $94 million in cash.
The closing price is subject to post-closing adjustments, Zebra said, and is expected to be immediately accretive to Zebra’s bottom line.
With the acquisition, Zebra, based in Lincolnshire, Ill., plans to form a Retail Solutions Group which will provide a series of software and hardware products to be applied to inventory management and pricing, mobile point-of-sale and customer engagement.
Hart, based in Hauppauge, N.Y., provides tools designed to help retailers better control their inventories and have access to real-time Web-based data analytics.
Anders Gustafsson, chief executive officer of Zebra, called the acquisition “an excellent strategic fit for Zebra. Hart’s solutions add high-value software and data analytics capabilities to Zebra and increase our presence within the Internet of Things ecosystem. The business expands the portfolio of products, solutions and services Zebra provides to current customers and gives us important relationships with new ones.”
Edward Tonkon, Hart’s ceo, commented, “From the outset of our involvement with Zebra, we recognized several opportunities to create value for our customers. Being part of Zebra Technologies will enable us to accelerate the realization of our long-term growth opportunities through building on Zebra’s industry-leading solutions and global reach.”
Zebra’s retail technology offerings include a portfolio of marking and printing equipment and software, including RFID — radio frequency identification — hardware. Its 2012 revenues were $996 million.