Zebra Technologies Corp. has just announced that it’s acquiring Antuit.ai Inc. The deal should be closed by the end of the year.
About the acquisition
Zebra Technologies Corp, an enterprise technology company, has announced that it is acquiring Antuit.ai INC, an AI software for manufacturers and retailers to forecast consumer demand. The acquisition price has not yet been disclosed; however, the deal is expected to close by year-end.
Goldman Sachs Group Inc’s Asset Management Group leads a consortium through which Zebra Technologies is acquiring Antuit.ai.
Why is this acquisition taking place?
Zebra Technologies is a primary industrial hardware provider that made approximately $4.5 billion in yearly revenues in the last fiscal year. They specialize in making rugged devices that can be used at warehouses and the link for package barcode scanning and other similar tasks.
They also sell several complementary devices such as parcel tracking systems, printers for barcode labels, and more. Moreover, they also make customized devices for organizations belonging to sectors like construction and healthcare.
Their main reason for acquiring Antuit.ai is to support their ongoing expansion efforts: they want to go beyond the industrial hardware business and provide SaaS. SaaS solutions generate more profit than hardware; thus, Zebra Technologies can profit by catering to this market.
Antuit.ai offers tools used by manufacturers of consumer packaged goods and retailers in particular. This is because their tools allow companies to predict customer demand in advance and use these predictions to adjust their operations accordingly.
Apart from Zebra Technologies gaining Antuit.ai’s demand forecasting tech, they will also be getting several industry-specific software capabilities due to this acquisition.
The CEO of Zebra Technologies, Anders Gustafsson, stated: “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. 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.”