Swyft acquires ZoomSystems
Swyft Inc. announced the strategic acquisition of NewZoom LLC (ZoomSystems), the global leader in automated retail, in a cash and equity transaction. The Swyft purchase of ZoomSystems enables both companies to better serve a broader global customer base in both Automated Retail and Retail Automation.
The ZoomSystems automated retail stores for Best Buy, Benefit Cosmetics, Nespresso, Proactiv, UNIQLO and other iconic brands reach millions of consumers each day across North America and Europe. ZoomSystems provides brands and retailers an end-to-end solution, which includes access to thousands of locations in airports, malls and other high-traffic channels. Swyft has been operating in Japan, the world's largest vending market per population, China, Australia, and recently launched in North America with several high-profile Fortune 100 companies.
Swyft's CEO, Gower Smith, was the original founder of ZoomSystems. Smith co-founded Swyft in 2013 with three young technical entrepreneurs to develop the second generation automated retail hardware and software using the latest cloud and IoT technology. Following the acquisition, Swyft and ZoomSystems constitute the two largest and leading companies in the industry with dozens of iconic global brand clients. They will continue to operate as two separate entities.
Gower Smith, who filed his first patents in automated retail in 1992, is widely regarded as the founder of the automated retail industry. Smith said "It is a tremendous moment for both companies. Our proven technology platforms and investments in Internet of Things, robotics and artificial intelligence will enable unprecedented efficiencies and amazing consumer experiences in this world of Retail Automation and immediate gratification."
