Vuzix Corporation (NASDAQ: VUZI) watched its shares climb Tuesday. The leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, announced it has acquired Moviynt®, a U.S.-based SAP Certified ERP platform software solution provider, to support handheld mobile phones and scanners used in logistics, warehousing and manufacturing applications.
The acquisition of Moviynt further positions Vuzix as a software solutions provider capable of expanding access and interaction between wearable and handheld devices that will help drive further market adoption to manage day-to-day business activities such as supply chain operations that are tied to ERP systems.
With the acquisition, Moviynt becomes a Vuzix wholly owned subsidiary. The acquisition is expected to be accretive with a low six figure revenue contribution projected for 4Q2022. Moviynt's SAP-based ERP mobility software solution is currently deployed in multiple customer sites and is undergoing proof of concept evaluations at several new warehousing sites across the United States and in Europe at a Fortune 500 aerospace and defense customer.
Moviynt, a boutique specialized software firm which was founded in 2018 by three principals, has developed a logistics mobility software platform (Mobilium®) which eliminates traditional middleware, and is device agnostic. Mobilium can ultimately support multiple ERP systems and modern-day warehouse picking with wearable devices such as Vuzix smart glasses, handheld devices such as Zebra scanners, and even mobile phones-based systems.
VUZI shares captured 28 cents, or 5.5%, to $5.28.
