Zebra Technologies Corporation (NASDAQ: ZBRA) has announced the completion of its acquisition of Elo Touch Solutions, Inc., an innovator of solutions across retail, hospitality, quick service restaurants (QSR), healthcare, and industrial markets. This acquisition is expected to expand Zebra's addressable market by approximately $8 billion, with Elo adding intelligence to frontline operations.
Elo, a pioneer in touchscreen technology, offers solutions that modernize point of sale (POS), streamline self-service and payment experiences, automate kitchen/industrial workflows, and optimize production and process management. Notably, Elo provides tailored products with exceptional quality for commercial use and has hundreds of innovative patents to its name.
Elo's strengths lie in providing solutions for environments where fast or self-service is a requirement, such as convenience stores, QSRs, retail stores, hospitals, airports, hotels, manufacturing environments, and more. The company's products cater to the needs of consumers who are increasingly embracing digital solutions, particularly in response to continued labor constraints and the growing comfort with self-service technology.
The acquisition is expected to benefit enterprise customers looking to digitize and automate their workflows, creating in-person experiences as smart and connected as the online world. Zebra's Chief Executive Officer, Bill Burns, highlighted that the combined portfolio of Zebra and Elo will further elevate the strategic position across the retail, hospitality, QSR, healthcare, and manufacturing industries.
Moreover, Zebra and Elo together aim to empower retailers and QSRs to enhance consumer experiences with complementary solutions at point-of-service, including compute, scanning, personal shopper devices, and touchscreen displays. The companies anticipate offering a common platform across mobile and fixed digital touchpoints throughout the store to improve frontline efficiency and customer service.
Following these announcements, the company's shares moved -1.29%, and are now trading at a price of $293.32. Check out the company's full 8-K submission here.
