Friday, November 24, 2017 | Today's Vending Industry News
Automated Retail Giant Swyft Acquires Zoom Systems

Posted On: 11/10/2017

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SAN FRANCISCO -- Swyft Inc. said it has acquired fellow automated retail giant Zoom Systems. Following the acquisition, Swyft and Zoom Systems will continue to operate as two separate entities.

Swyft has been operating its automated retail stores in Japan China and Australia and recently launched in North America. Its chief executive, Gower Smith was the original founder of Zoom Systems in 2002. Smith filed his first patents in automated retail in 1992. He stepped down from his role as chief executive at Zoom Systems in 2011.

In 2013, Smith co-founded Swyft with three technical entrepreneurs to develop the second-generation automated retail hardware and software using the latest cloud and IoT technology. In 2016, Gower Smith became chief executive of Swyft.

In August 2016, Swyft Inc. acquired Zoom Systems' business in Japan.

Zoom Systems operates more than 900 automated retail shops across North America and Europe at thousands of locations in airports, malls and other high-traffic channels for retailers and brands such as Proactiv, Best Buy, Nespresso, Benefit Cosmetics and Uniqlo. Zoom Systems' end-to-end hardware, software and services solutions offer both satellite and in-store options that allow brands to increase reach, reduce shrinkage and improve sales.

"It is a tremendous moment for both companies," Smith said. "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."

Swyft president Richard Hashim emphasized that the retail landscape is undergoing a tremendous disruption and reinvention. "Both Swyft and Zoom Systems are incredibly positioned to support the growing demand we are seeing in retail automation as part of an omnichannel solution for world-leading brands, retailers and ecommerce companies," Hashim said. "They are turning to us because it is clear that our turnkey solution is a much more efficient go-to-market strategy."