Zebra Technologies set to acquire Matrox Imaging
Following on from its acquisition of Adaptive Vision and Fetch Robotics in summer 2021, USA solutions provider Zebra Technologies has announced that it plans to acquire Canadian-based Matrox Imaging.
Matrox Imaging supplies 3D sensors, smart cameras, vision controllers, I/O cards and frame grabbers to OEMS and integrators in manufacturing, medical, transportation and surveillance sectors, among others. Founded in 1976, it is currently represented in 25 countries.
Matrox President and Co-Founder, Lorne Trottier, stated that “The combination of Matrox Imaging’s technical expertise with the global footprint of Zebra Technologies will present an opportunity for Matrox Imaging to accelerate its long-term strategic plan.” He also confirmed that the deal does not include Matrox Video division (Matrox Graphics Inc.), which will remain under his ownership.
Anders Gustafsson, Chief Executive Officer of Zebra Technologies, commented that “This acquisition enables us to meet our customers’ evolving needs, regardless of where they are on their automation journey – from capturing and analyzing data to facilitate decision-making to deploying physical automation solutions to accelerate the production and movement of goods and materials.” The acquisition will strengthen Zebra’s presence in the automation and vision technology sector, and “supports [the] company’s objective to help customers automate and digitize workflows”.
The $875m purchase price will be funded by a combination of cash and fully committed financing under Zebra’s credit facility and is expected to close during the course of this year, with Matrox’s HQ operations continuing to run from Montreal. The deal will add Matrox’s $100m annual sales to Zebra’s revenue, which was reported as $5.6 billion for the twelve months ending December 31st 2021, a 26.51% increase year-on-year[1].
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[1] https://www.macrotrends.net/stocks/charts/ZBRA/zebra-technologies/revenue
