Xplore Technologies to be Acquired by Zebra Technologies

Xplore Technologies (NASDAQ:XPLR), a global leader in rugged computing reported increased revenue and positive net income for its fiscal year 2018.

Further, the company announced that it has signed a definitive agreement to be acquired by Zebra Technologies.

As quoted in the press release:

Fiscal Year 2018 and Recent Highlights:

• Reported revenue of $86.9 million, an increase of 11.6% year-over year;
• Achieved gross margin of 29.8%, increased from 28.2% in fiscal 2017;
• Maintained low operating expenses of $25.2 million, including $0.7 million in one-time charges;
• Reported a net profit of $300,000, or $0.03 per diluted share, and adjusted EBITDA of positive $3.8 million, compared with a net loss of $2.6 million, or ($0.23) per basic share, and negative adjusted EBITDA of $168,000 in fiscal 2017;
• Results for fiscal 2018 include $0.06 per share in one-time charges related to executive severance costs and $0.01 per share representing a one-time property tax payment related to assets acquired from Motion Computing in 2015;

“As promised, we reported a strong finish to fiscal 2018, delivering an almost 12% increase in annual sales, positive GAAP net income for the year and significant progress on our transformation into a diversified, profitable rugged mobility company serving an addressable market in excess of $4 billion,” Tom Wilkinson, CEO said. “Our success as the #2 global provider of rugged tablets and strong growth outlook earned the notice of Zebra Technologies, the global leader in rugged mobile computers, barcode scanners and barcode printers. This morning we announced an agreement to be acquired by Zebra for $6.00 per share.”

Zebra Technologies Transaction
Xplore today announced a definitive agreement to be acquired by Zebra Technologies Corporation, a market leader in rugged mobile computers, barcode scanners and barcode printers enhanced with software and services to enable real-time enterprise visibility. Under terms of the agreement, Zebra will acquire all of the outstanding shares of Xplore for $6.00 per share. Zebra plans to effect the acquisition via commencing a tender offer. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2018.

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