|Bologna, July 2, 2010 – Datalogic S.p.A. (Borsa Italiana S.p.A.: DAL) a company listed on the
Italian Stock Exchange (Mercato Telematico Azionario - Star segment - managed and organized by
Borsa Italiana S.p.A.), (“Datalogic”), announces the acquisition, through its subsidiary Datalogic
Scanning Holdings Inc., of the entire share capital of Evolution Robotics Retail, Inc., a company
located in California with unique expertise in visual pattern recognition technology for use currently
in retail loss prevention and productivity applications (“Evolution Robotics Retail”).
The agreement was signed on July 1, 2010 with Future Vision Holdings, Inc. and Idealab,
controlling companies of Evolution Robotics Retail.
The entire management and technical team of Evolution Robotics Retail will remain with the
company and continue to drive innovation in the retail sector while also working with Datalogic to
promote its visual pattern recognition technology (“ViPR®”) in other commercial and industrial
The acquisition provides for a broadening of Datalogic’s solution-based offerings, adds an
innovative and key technological capability and offers a high-growth business prospect.
Furthermore, the aforesaid transaction will allow Datalogic to strengthen its own research activities
thanks to the skills of world renowned vision technology experts and also to pursue a primary role
in the promising visual pattern recognition industrial sector.
The acquisition of patents and expertise in the area of vision-based technologies will allow
Datalogic to develop a wide range of solutions based on visual pattern recognition.
Regarding market share, the acquisition of Evolution Robotics Retail’s existing business will
immediately reinforce Datalogic’s worldwide leadership in the retail sector. Furthermore, new visual
pattern recognition solutions aimed at managing several other in-store applications will allow
Datalogic to increase its penetration with major global retailers, most of whom are current Datalogic
Mauro Sacchetto, Datalogic Chief Executive Officer, commented on the acquisition as follows:
"Even during these difficult economic times, Datalogic continues to seize bright opportunities for
innovation and growth. This acquisition further strengthens our technological leadership with avantgarde
technologies which are unique in the field of visual pattern recognition. For example, the
company’s applications are capable of automatically identifying items in shopping cart baskets
utilizing sophisticated object recognition algorithms. We also believe that visual pattern recognition
will be a key technological building block in our industrial focused businesses and we expect to
capitalize on this soon. More fundamentally, as a company we are looking to further balance our
portfolio by investing strongly in solution-based businesses and not just in hardware-based
businesses – thereby creating more value for our customers and positioning Datalogic as a more
strategic partner. Our ability to detect and anticipate the needs of our customers and the market
are, as always, the real drivers of Datalogic.”
Alec Hudnut, Evolution Robotics Retail Chief Executive Officer, anticipates a superb partnership
with Datalogic to unfold, commenting, “We were looking for a strong company with which to align
and we could not be more pleased with Datalogic as our partner and parent company. We fully
expect that Datalogic’s strong position in the retail sector, its expansive distribution network and
global reach and its access to other industrial-based applications will allow us to propel our
company further and faster than we could otherwise do on our own.”
Value of the transaction
The value of the transaction is equal to U.S.D. 25,500,000.00. Evolution Robotics Retail has no
debt and Datalogic funded the acquisition by means of its own financial resources.
The financial statements as of December 31, 2009, show that Evolution Robotics Retail realized
revenues equal to U.S.D. 5.1 million and a negative EBITDA equal to U.S.D. 2.7 million.
The value of the transaction is mainly constituted by intangible assets such as patents, trade
secrets, copyrights and other intellectual property rights, licensing agreements and customer
Evolution Robotics Retail has five patents and eleven patent applications filed at the United States
Patent and Trademark Office.
Evolution Robotics Retail
Evolution Robotics Retail was established in 2006 by Idealab, a creator and operator of technology
companies, with the intent of focusing on the ViPR® technology for use in loss-prevention
applications in the retail sector. The Company’s value proposition is to turn retail losses into real
The company’s flagship product, LaneHawk® BOB, is used for loss prevention in the bottom-ofbasket
at retail checkout and has gained broad acceptance with over 10,000 lanes installed in the
Several follow-on products, utilizing the ViPR® technology and focused on loss-prevention and
productivity applications including LaneHawk® InCartTM, ShelfHawkTM and TunnelHawkTM, are
currently in pilot stage with major retailers in the U.S.A.