Zebra Technologies Intends to Acquire Matrox Imaging For $875 Million
Zebra Technologies Corporation (NASDAQ:ZBRA) made an announcement today, according to which it intends to acquire Matrox Imaging, a machine vision company, for $875 million using both cash and financing under its credit facility. Matrox manufactures higher-end machine vision cameras, systems and related software. The company generates around $100 million in annual sales, implying a valuation of 8.8x on EV/sales.
Zebra Technologies Corporation expects the deal to be immediately accretive to earnings given that Matrox’s gross margins are meaningfully higher than that of Zebra’s.
Analysts at Berenberg Bank believe Matrox will add around 1% to Zebra’s sales in both 2022 and 2023 with the closing of the deal expected in 2022. While Matrox will only add modestly to near-term growth, the analysts believe it creates a larger platform for Zebra to add further acquisitions and accelerate its expertise in the area.
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| KETR.JK | 208 | 0 |
