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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Vontier Corp (NYSE:VNT) inked an agreement to acquire DRB Systems, LLC from New Mountain Capital LLC affiliates for $965 million in cash.
- DRB is a provider of point of sale, workflow software, and control solutions to the car wash industry. The acquisition will close in Q3 of 2021.
- The acquisition is likely to accelerate Vontier's portfolio diversification strategy toward long-term secular growth drivers in attractive markets and establish a $500 million Retail Solutions portfolio.
- The entry into the high-value segment of the car wash industry will help Vontier benefit from the growing demand for clean, efficient mobility solutions, autonomous vehicles, and water conservation.
- Vontier Q2 2021 core revenue growth and adjusted EPS guidance are likely to surpass its previously announced guidance, driven primarily by increased demand for Retail Solutions and Auto Repair offerings.
- The adjusted EPS guidance was $0.50 - $0.54 versus the analyst consensus of $0.53.
- Vontier held $670.3 million in cash and equivalents as of Apr. 2.
- Price action: VNT shares traded lower by 1.12% at $30.79 on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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