- Vuzix Corp (NASDAQ: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.
- Photo Via Company
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