Subsequent Events

9 Months Ended

Sep. 27, 2025

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Segments

Effective with the fourth quarter, the Company’s reportable segments will be changed to Connected Frontline (“CF”) and Asset Visibility & Automation (“AVA”). The CF segment will consist of our mobile computing products, and related services and software-based offerings that were formerly part of our EVM segment. The AVA segment will consist of our barcode and card printing products and related supplies and sensors, RFID and RTLS offerings, and related services that collectively represented our former AIT segment, as well as our data capture, machine vision, and robotics automation offerings and related services that were formerly part of our EVM segment. This change aligns with how we are operating our business to advance our strategy and the level of detailed financial information reviewed by our chief operating decision-maker going forward. Our CF and AVA results will also exclude share-based compensation expense from the measurement of segment operating income. These changes will not have an impact on our Consolidated Financial Statements.

Elo

On September 30, 2025, the Company acquired Elo Holdings, Inc., the sole stockholder of Elo Touch Solutions, Inc. (collectively, “Elo”), an innovator of solutions that engage customers, enhance self-service, and accelerate automation across a wide range of end markets. Through its acquisition of Elo, the Company expanded its portfolio of self-service and consumer-facing workflow offerings.

The acquisition will be accounted for in the fourth quarter under the acquisition method of accounting for business combinations. The Company’s purchase consideration, which remains subject to standard net working capital adjustments, was approximately $1.3 billion and was comprised of cash paid, net of Elo’s cash on hand.

As part of this business combination, we expect to recognize goodwill that will be non-deductible for tax purposes. The Elo business will be part of the CF segment.