WASHINGTON (dpa-AFX) - Zebra Technologies Corporation (ZBRA), a mobile computing company, Tuesday said it has agreed to acquire Elo Touch Solutions, Inc., a provider of touchscreen solutions, for $1.3 billion in cash.
Zebra said that the acquisition will enhance its self-service use cases and complement the company's recently launched kiosk solution.
The transaction is expected to add to Zebra's earnings immediately, and bring in $25 million increase in annual EBITDA, or earnings before interest, taxes, depreciation, and amortization, through synergies by year three.
Elo has annual sales of about $400 million with sales growth of 5%-7% over a cycle.
'An increased focus on self-service and consumer-facing workflows will expand our addressable market by approximately $8 billion and create a leading portfolio of solutions that digitize and automate the frontline of business,' said Bill Burns, Chief Executive Officer, Zebra Technologies.
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