Zebra Technologies Corporation completed the acquisition of Antuit, Inc. from Goldman Sachs Asset Management, L.P. and others for approximately $150 million.
October 06, 2021
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Zebra Technologies Corporation (NasdaqGS:ZBRA) signed a letter of intent to acquire Antuit, Inc. from Goldman Sachs Asset Management, L.P. and others on August 30, 2021. Zebra expects to fund the purchase price with cash on hand. Antuit team will join Zebra. The transaction is subject to customary closing conditions, including regulatory approval and is expected to close in 2021. Zebra expects this transaction to have an immaterial impact to earnings in 2021. Jenner & Block LLP acted as legal advisor to Zebra.Ashraya Rao and Vinita Krishnan of Khaitan & Co., Goodwin Procter LLP acted as legal advisor and Mizuho Securities USA LLC acted as financial advisor to antuit.ai. Kochhar & Co. was engaged by Zebra Technologies Corporation to assist and advise on the India leg of the global acquisition of ANTUIT AI. The transaction was led by Kochhar Bangalore Stephen Mathias and Deepti Bhat.
Zebra Technologies Corporation (NasdaqGS:ZBRA) completed the acquisition of Antuit, Inc. from Goldman Sachs Asset Management, L.P. and others for approximately $150 million on October 7, 2021. The purchase consideration was approximately $145 million, net of cash acquired, which was funded with cash on hand.
Zebra Technologies Corporation specialises in the design, manufacture and marketing of automatic identification and data capture technology systems. The products are mainly intended for the distribution, e-commerce, transportation, logistics and healthcare sectors. Net sales break down by category of products as follows:
- visibility and mobility systems (70%): mobile terminals (ruggedized computers, tablets, mobile radio transceivers, RFID readers, point-of-sale systems, interactive kiosks, etc.);
- product information and traceability systems (30%): barcode printers and scanners, card printers, RFID label printers and encoders, printing consumables (thermal transfer labels, receipt paper, ribbons, plastic cards, RFID tags, etc.) and location solutions.
Net sales by source of income are divided between sales of products (85%) and sales of services and software (15%).
At the end of 2022, the group operates 117 production sites worldwide.
Net sales are distributed geographically as follows: the United States (31.8%), North America (18.7%), Germany (16.4%), Europe/Middle East/Africa (16.8%), Asia/Pacific (10.5%) and Latin America (5.8%).
Zebra Technologies Corporation completed the acquisition of Antuit, Inc. from Goldman Sachs Asset Management, L.P. and others for approximately $150 million.
ZEBRA TECHNOLOGIES CORPORATION 
