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Prashanth Palakurthi - Zebra Technologies To Acquire Reflexis Systems, Inc. For $575 Million

Press Release
07/30/2020

Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the front line of business with solutions and partners that deliver a performance edge,  intends to acquire Reflexis Systems, Inc., co-founded by Prashanth Palakurthi, a privately-held, leading provider of intelligent workforce management, execution, and communication solutions for organizations in the retail, food service, hospitality and banking industries.

Reflexis, a global market leader in retail task management and a recognized leader in workforce management, expands Zebra’s software portfolio. The Reflexis ONE™ intelligent work platform is used by hundreds of customers globally to achieve measurable improvements in customer engagement along with associate productivity and retention. Reflexis ONE enables managers to schedule hours against projected traffic demand and task requirements. It also gives store associates a single place to view assigned tasks from all levels of the organization which can then be monitored for completion. A Zebra® PartnerConnect Premier ISV partner, Reflexis empowers digital natives – the new generation of front-line workers – who expect technology solutions to help keep them connected and facilitate their work.

“We are pleased to join Zebra and help build its strong position in retail with our compelling, differentiated worker efficiency solution,” said Prashanth Palakurthi, Founder and CEO, Reflexis Systems, Inc. “Our team has built a market-leading platform and application that has scaled to accommodate rapid growth over the last three years. We look forward to applying our expertise in directing associate activity to more profitable execution for customers while helping provide greater meaning to an associate’s workday.”

A portfolio company of Great Hill Partners and Sageview Capital, Reflexis achieved sales of approximately $66 million in 2019, doubling over a 3-year period, with gross margin approximately 20 percentage points higher than Zebra. The scale, vertical market expertise, and go-to-market footprint of Zebra is expected to create substantial synergies. Zebra expects to fund the $575 million purchase price with a combination of cash on hand along with fully committed financing available under its credit facility. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close by early in the fourth quarter of 2020. 



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