Zebra to acquire Matrox Imaging for $875 million

LINCOLNSHIRE - Zebra Technologies Tuesday said it intends to acquire Montreal-based Matrox Electronic Systems Ltd., which does business as Matrox Imaging, a developer of advanced machine vision components and systems.

Zebra expects to fund the $875 million purchase price with a combination of cash on hand along with fully committed financing under its credit facility. The transaction is subject to customary closing conditions, including regulatory approval and is expected to close in 2022.

The acquisition further expands Zebra's offerings in the fast-growing automation and vision technology solution space, the company said. Financial terms of the deal were not disclosed.

Last year, Zebra introduced its fixed industrial scanning and machine vision portfolio and acquired Adaptive Vision and Fetch Robotics. Matrox Imaging offers platform-independent software, software development kits, smart cameras, 3-D sensors, vision controllers, input/output cards and frame grabbers. These products are used to assess and record data from industrial vision systems used in factory automation, the electronics and pharmaceutical packaging industries, semiconductor inspection and more.

"Customers are increasingly deploying automated solutions to augment their front-line workers, enabling them to focus on more complex, higher value workflows, and machine vision is a key technology to help them get there," said Anders Gustafsson, chief executive officer of Zebra Technologies.