Zebra expects to fund the 875 million US dollars (approximately 797 million euros) purchase price through a combination of cash on hand and 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. Matrox Imaging generates approximately 100 million US dollars in annual revenue and has a higher profit margin profile than Zebra.

The Matrox Video Division (Matrox Graphics Inc.) is not part of the transaction and will remain under the ownership of Matrox President and co-founder Lorne Trottier. In addition, both Matrox Video Division and Matrox Imaging Division headquarters will remain in Montreal.

Last year, Zebra acquired Adaptive Vision and Fetch Robotics, already expanding its portfolio of fixed industrial scanners and vision systems. Matrox Imaging now adds expertise and products in software, machine learning and deep learning.

Anders Gustafsson, CEO of Zebra Technologies, comments on the pending acquisition: "This acquisition enables us to meet our customers' evolving needs, regardless of where they are on their automation journey—from capturing and analyzing data to facilitate decision-making to deploying physical automation solutions to accelerate the production and movement of goods and materials.

About Matrox Imaging

Matrox Imaging, founded in 1976, provides platform-independent software, software development kits (SDKs), smart cameras, 3D sensors, vision controllers, input/output (I/O) boards, and frame grabbers used to capture, inspect, evaluate, and record data from machine vision systems in factory automation, electronics and pharmaceutical packaging, semiconductor inspection, and other fields.