Swyft acquires automated retail technology company Utique

30 July 2018 (Last Updated August 3rd, 2018 08:02)

US-based retail automation company Swyft has announced the strategic acquisition of automated retail technology company Utique.

US-based retail automation company Swyft has announced the strategic acquisition of automated retail technology company Utique.

The transaction includes cash and equity and will allow Swyft to expand its platform by deploying new technology.

It will also enable Swyft to build consumer presentation on its software and hardware platforms.

Swyft CEO Gower 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.”

The deal will strengthen Swyft’s patented inventions portfolio with the addition of ten granted US patents from Utique.

These patents include mechanical, back-end management system, as well as user experience and lighting.

“Utique is a synergistic technology company that further adds functionality and efficiency into our automated retail product.”

One patent helps Swyft to boost its own filings for use of vending machines as distributed micro-warehouses for e-commerce delivery.

The deal also covers know-how on rules-based retail, as well as the Utique Shop.

Swyft product and marketing Lincoln Smith said: “Utique is a synergistic technology company that further adds functionality and efficiency into our automated retail product.

“With the acquisition comes an exceptional user experience in high-end consumer retailing.”

Last November, Swyft acquired ZoomSystems, which received $137m investment to develop its automated retail platform.

Apart from patents owned by ZoomSystems, the company has also acquired patents from Vigix, including a ‘no-moving-parts’ dispensing patent and a cartridge-based replenishment system patent.