Vuzix Buys SAP Software Solution Provider Moviynt

Vuzix Corp VUZI has acquired Moviynt, a U.S.-based SAP Certified ERP platform software solution provider. The financial terms were not disclosed.
Moviynt, a boutique specialized software firm founded in 2018 by three principals, has developed a logistics mobility software platform (Mobilium), which eliminates traditional middleware, and is device agnostic.
The acquisition of Moviynt further positions Vuzix as a software solutions provider capable of expanding access and interaction between wearable and handheld devices.
The company expects the deal to support handheld mobile phones and scanners used in logistics, warehousing, and manufacturing applications.
With the acquisition, Moviynt becomes Vuzix's wholly-owned subsidiary. The acquisition is expected to be accretive, with a low six-figure revenue contribution projected for Q4 FY22.
Mobilium can support multiple ERP systems and modern-day warehouse picking with wearable devices, handheld devices, and even mobile phone-based systems.
Vuzix held $100.6 million in cash and equivalents as of June 30, 2022.
Price Action: VUZI shares are trading higher by 3.90% at $5.20 on the last check Tuesday.
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