SAN FRANCISCO, July 26, 2018 — Swyft, Inc. announced the strategic acquisition of Utique, Inc., a high-tech US automated retail technology company. The cash and equity transaction enables Swyft to deploy new technology into its platform and buil
“Utique is a synergistic technology company that further adds functionality and efficiency into our automated retail product,” said Lincoln Smith, Swyft’s VP Product & Marketing. “With the acquisition comes an exceptional user experience in high-end consumer retailing.”
Utique was awarded the “Best New Airport Retail Concept in North America” by ACI, the “Gold Innovation Award for Best Store Design” by NAMA, and was named to McKinsey & Company’s “Ones to Watch in Retail” report.
The acquisition also strengthens Swyft’s growing portfolio of patented inventions by adding ten (10) granted US patents. Utique’s technology includes mechanical patents, a back-end management system patent and user experience and lighting patents. One patent builds on Swyft’s own filings for use of vending machines as distributed micro-warehouses for e-commerce delivery.