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Swyft, Inc. acquires Utique, Inc.

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Swyft, Inc. acquires Utique, Inc.

PR Newswire

SAN FRANCISCO, July 26, 2018 /PRNewswire/ -- Swyft, Inc. announced the strategic acquisition of Utique, Inc., a high-tech US automated retail technology company. The cash and equity transaction enables Swyft to deploy new technology into its platform and build a higher-end consumer presentation on its software and hardware platforms.

Swyft Inc. -- a leader in the automated retail industry -- is a technology and services company that increases sales and profits and enhances customer experiences for retailers, brands and independent operators using low-cost hardware, flexible cloud-based software and the efficient operating cost structures of the vending industry.

"Utique is a synergistic technology company that further adds functionality and efficiency into our automated retail product," said Lincoln Smith, Swyft's VP Product & Marketing. "With the acquisition comes an exceptional user experience in high-end consumer retailing."

Utique was awarded the "Best New Airport Retail Concept in North America" by ACI, the "Gold Innovation Award for Best Store Design" by NAMA, and was named to McKinsey & Company's "Ones to Watch in Retail" report.

The acquisition also strengthens Swyft's growing portfolio of patented inventions by adding ten (10) granted US patents. Utique's technology includes mechanical patents, a back-end management system patent and user experience and lighting patents. One patent builds on Swyft's own filings for use of vending machines as distributed micro-warehouses for e-commerce delivery. The Utique Shop was built as owner-operated retail, which is not a solution that Swyft has previously offered. The acquisition also includes critical know-how on Rules-based Retail™, a feature that Utique was first to bring to market that facilitates pre-programming contextual rules to provide greater control in messaging and merchandising to consumers.

Swyft, Inc. also acquired ZoomSystems in November 2017, a company that received an estimated $137 million of investment to build its automated retail platform. In addition to the patents already owned by ZoomSystems, patents were also acquired from Vigix including a "no-moving parts" dispensing patent and a cartridge based replenishment system patent.

Gower Smith, Swyft's CEO, filed his first automated retail patent in 1992. Smith said: "Swyft is investing heavily in an effort to establish our technology platform as the standard for brands and retailers wishing to implement automated retail and retail automation solutions. I am also delighted to announce that the Utique founders including Mara Segal (former CEO) and Darrell Mockus (former CTO) have joined the Swyft strategic advisory board."

About Swyft

Swyft Inc. — the global leader in the automated retail and retail automation — is a technology and services company that increases sales and profits and enhances customer experience for retailers and brands.  Swyft, Inc and its subsidiary ZoomSystems have a growing portfolio of global brands and retailers including Benefit Cosmetics (LVMH), Best Buy (BBY), CVS (CVS), Dixons (DC.), Kusmi Tea, Nespresso (NSRGY), NTT (NTT), The Pokemon Company (NTDOY), The Proactiv Company (NSRGY), and UNIQLO (FRCOF). Swyft offers hardware, software and services to deploy large-scale networks of automated retail stores.

For more information visit http://swyftstore.com/newsroom/press-releases/.

 

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SOURCE Swyft, Inc.

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