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Zebra Technologies to acquire Elo Touch Solutions for $1.3B in cash

Zebra Technologies (ZBRA) announced it has entered into a definitive agreement to acquire Elo Touch Solutions, an innovator of solutions that engage customers, enhance self-service, and accelerate automation across retail, hospitality, quick service restaurants, healthcare, and industrial markets for $1.3B in cash. Zebra expects to fund the $1.3B purchase price with a combination of cash on hand along with financing from its credit facility. The purchase price is subject to customary closing adjustments. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in 2025. Elo has annual sales of approximately $400M with similar annual sales growth (5-7% over a cycle) and EBITDA margin profile as Zebra. The transaction is expected to be immediately accretive to earnings upon closing and generate an incremental $25M of annual EBITDA through synergies by year three.

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