Ecoark Holdings Inc., Roger’s company that focuses on reducing waste in operations, logistics and supply chains, is acquiring software development and information solutions provider 440labs.
Ecoark said it has completed a nonbinding term sheet to acquire the Massachusetts Company in an all-stock transaction. 440labs has partnered with Zest Labs an Ecoark subsidiary for the past four years, providing cloud solutions and mobile applications.
Ecoark Chief Executive Officer Randy May said in a statement that the transaction is consistent with the company’s capital deployment strategy of acquiring “high performing niche businesses.” 440labs’ name, brands, and office locations will not change as a result of the transaction.
“440labs is a terrific company with clear leadership in its niche market, strong technical expertise with numerous growth opportunities, and a management team that will thrive as part of Zest Labs,” May said in the statement.