Zebra Tech To Acquire Fetch Robotics For $290M

Zebra Technologies Corp ZBRA announced plans to acquire a 95% stake in on-demand automation company Fetch Robotics for $290 million.
Fetch's Autonomous Mobile Robots (AMRs) facilitate optimized picking in fulfillment centers and distribution centers, just-in-time material delivery in manufacturing facilities, and automating manual material movement in any facility.
The acquisition will accelerate Zebra's Enterprise Asset Intelligence vision and growth in intelligent industrial automation by helping customers operate more efficiently in increasingly automated, data-powered environments, Zebra CEO Anders Gustafsson said. It will also optimize the supply chain from the point of production to the consumption point.
The acquisition furthers Zebra's vision to bring advanced robotics solutions to customers with labor-intensive operations.
In its early-rapid growth phase, Fetch is generating annualized run-rate sales of $10 million. Zebra's go-to-market footprint and vertical market expertise are likely to drive synergies as they integrate and invest in the business.
Zebra held $177 million in cash and equivalents as of April 3, 2021.
Price action: ZBRA shares closed lower by 1.23% at $529.49 on Wednesday.