Zebra Technologies Corp., an Illinois-based provider of edge technologies, announced it intends to acquire Temptime Corp., a Morris Plains-based developer and manufacturer of temperature monitoring solutions for the health care industry.
Temptime’s technology visually notifies users if medical or biological products and shipments have experienced a temperature deviation, it said.
“The acquisition of Temptime advances the integration of smart supplies into our Enterprise Asset Intelligence vision as we incorporate temperature-monitoring capabilities,” Anders Gustafsson, CEO of Zebra Technologies, said. “This acquisition aligns well with our strategy to expand into high-growth areas that are a strong fit for Zebra. We have the unique ability to scale this technology deeper into the health care industry and drive it into other key opportunities such as food safety that can benefit from increased asset visibility.”
“We are very excited to join Zebra and work together to advance our technology from visual to digital temperature indicators. This will enable us to more quickly accelerate our innovation to benefit our customers,” Renaat Van den Hooff, CEO and president of Temptime, said. “Zebra’s expertise in health care complements our commitment to supporting our humanitarian mission of improving global health.”
Zebra said it expects to fund the acquisition with a combination of cash and credit. It is expected to close in the first quarter of 2019.
Financial terms were not disclosed.