Zebra Technologies Corporation announced its intent to acquire Profitect, a software-as-a-service organization that provides retail and consumer packaged goods companies with prescriptive analytics solutions.
Using machine learning and prescriptive analytics, Profitect enables retailers such as Ann Taylor, Abercrombie & Fitch, Belk, Finish Line and Walgreens to be “more efficient, effective and profitable,” according to Guy Yehiav, chief executive officer of Profitect. At the time of publish last June, Yehiav told WWD how Profitect has experienced over 200 percent year-over-year growth.
“With just a simple command, prescriptive analytics helps retailers get exactly the results they want to see — from analysis to execution,” as stated by Yehiav, including arming retailers with data to improve inventory and pricing accuracy, merchandising and product assortment decisions (including out of stock or unsellable merchandise), among other use cases.
“The acquisition of Profitect expands our relevancy deeper and wider in global retail operations while advancing our software capabilities,” said Anders Gustafsson, ceo of Zebra Technologies. The acquisition will also build off of Zebra’s current investment in its Savanna data intelligence platform (in its Enterprise Asset Intelligence solution category) to connect Zebra devices and sensors in real-time and through data – ultimately improve efficiencies across operations. Profitect’s pool of talent, skills and resources, alongside Zebra’s existing software capabilities, will serve to empower front-line workers across verticals with the insights to fuel better decision-making. As it is, Zebra already partners with over 10,000 partners across 100 countries delivering end-to-end retail and e-commerce solutions.
Costs associated with the transaction will not be disclosed, although the company expects to fund the acquisition with a combination of cash on hand along with fully-committed financing under its credit facility. The deal is expected to close in the second quarter of 2019.