Acquisition supports company’s objective to help customers automate and digitize workflows.
Zebra Technologies, an innovator at the front line of business with solutions and partners that deliver a performance edge, announced it intends to acquire Matrox Imaging (Matrox Electronic Systems Ltd.), a proven developer of advanced machine vision components and systems.
This acquisition further expands Zebra’s offerings in the fast-growing automation and vision technology solution space following last year’s acquisitions of Adaptive Vision and Fetch Robotics.  
Matrox Imaging offers platform-independent software, software development kits (SDKs), smart cameras, 3D sensors, vision controllers, input/output (I/O) cards and frame grabbers which are used to capture, inspect, assess and record data from industrial vision systems in factory automation, electronics and pharmaceutical packaging, semiconductor inspection and more.
These capabilities enable industrial customers to lower their cost to manufacture products, improve product quality, and increase compliance and yield.  
The acquisition of Matrox Imaging expands the portfolio of machine vision products, software and services Zebra can offer customers to help them thrive in the on-demand economy that is constrained by both labor shortages and limited supply of upstream goods and materials.
Matrox Imaging’s solutions complement Zebra’s recently launched fixed industrial scanning and machine vision portfolio as well as significantly augment Zebra’s growing expertise in software, machine learning and deep learning.  
Operations leaders within the automotive, pharmaceutical, electronics and food & beverage industries stand to gain the most from this exciting new combination. According to Zebra’s recent Pharmaceutical Supply Chain Vision Study, 96% of decision-makers agree supply chain visibility provides a clear competitive advantage while 93% of food & beverage decision-makers surveyed for our Food Safety Supply Chain Vision Study plan on increasing investments in food monitoring technology in the next few years.   
Zebra expects to fund the $875 million purchase price with a combination of cash on hand along with fully committed financing under its credit facility. The transaction is subject to customary closing conditions, including regulatory approval and is expected to close in 2022. Matrox Imaging generates annual sales of approximately $100 million with a higher profit margin profile than Zebra.   
Osler, Hoskin & Harcourt LLP is serving as legal counsel and UBS Investment Bank is serving as financial advisor to Zebra. Stikeman Elliott LLP is acting as legal counsel and Evercore is acting as financial advisor to Matrox Imaging.  

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