Serve Robotics to Acquire Autocado Robot Maker Vebu, Expanding Automation Offering
Serve Robotics (Nasdaq: SERV) announced its agreement to acquire the assets of Vebu, a leader in full-stack automation for the restaurant industry. This all-stock transaction, with undisclosed financial terms, aims to enhance Serve's offerings by integrating Vebu's kitchen automation solutions, including the Autocado robot, which automates avocado processing. Vebu's founder, Buck Jordan, will join Serve as SVP of Kitchen Automation. This acquisition is expected to unlock key synergies, expand Serve's market opportunities, and strengthen partnerships with major restaurant chains like Chipotle.
Serve Robotics (Nasdaq: SERV) ha annunciato di aver raggiunto un accordo per acquisire gli asset di Vebu, un leader nell'automazione completa per l'industria della ristorazione. Questa transazione interamente in azioni, con termini finanziari non divulgati, mira a potenziare le offerte di Serve integrando le soluzioni di automazione della cucina di Vebu, incluso il robot Autocado, che automatizza il processo di lavorazione degli avocado. Il fondatore di Vebu, Buck Jordan, entrerà a far parte di Serve come SVP di Automazione della Cucina. Si prevede che questa acquisizione sblocchi sinergie chiave, espanda le opportunità di mercato di Serve e rafforzi le partnership con importanti catene di ristorazione come Chipotle.
Serve Robotics (Nasdaq: SERV) anunció su acuerdo para adquirir los activos de Vebu, un líder en automatización de pila completa para la industria de restaurantes. Esta transacción en acciones, con términos financieros no divulgados, tiene como objetivo mejorar las ofertas de Serve mediante la integración de las soluciones de automatización de cocina de Vebu, incluido el robot Autocado, que automatiza el procesamiento de aguacates. El fundador de Vebu, Buck Jordan, se unirá a Serve como SVP de Automatización de Cocina. Se espera que esta adquisición desbloquee sinergias clave, expanda las oportunidades de mercado de Serve y fortalezca las asociaciones con importantes cadenas de restaurantes como Chipotle.
Serve Robotics (Nasdaq: SERV)는 레스토랑 산업을 위한 전체 스택 자동화의 선두주자 Vebu의 자산을 인수하기로 합의했다고 발표했습니다. 공개되지 않은 재무 조건에 따라 이루어진 이번 전량 주식 거래는 Vebu의 주방 자동화 솔루션, 특히 아보카도를 자동으로 처리하는 Autocado 로봇을 통합함으로써 Serve의 제품을 향상시킬 것을 목표로 하고 있습니다. Vebu의 창립자인 Buck Jordan은 Serve의 주방 자동화 SVP로 합류할 예정입니다. 이번 인수는 주요 레스토랑 체인인 Chipotle과의 파트너십을 강화하고 Serve의 시장 기회를 확대하며 주요 시너지를 창출할 것으로 예상됩니다.
Serve Robotics (Nasdaq: SERV) a annoncé son accord pour acquérir les actifs de Vebu, un leader de l'automatisation complète dans l'industrie de la restauration. Cette transaction entièrement en actions, avec des conditions financières non divulguées, vise à améliorer les offres de Serve en intégrant les solutions d'automatisation de cuisine de Vebu, y compris le robot Autocado, qui automatise le traitement des avocats. Le fondateur de Vebu, Buck Jordan, rejoindra Serve en tant que SVP de l'automatisation de la cuisine. Cette acquisition devrait permettre de débloquer des synergies clés, d'élargir les opportunités de marché de Serve et de renforcer les partenariats avec des chaînes de restaurants majeures telles que Chipotle.
Serve Robotics (Nasdaq: SERV) kündigte an, dass es eine Vereinbarung zur Übernahme der Vermögenswerte von Vebu, einem führenden Unternehmen für vollautomatisierte Lösungen in der Restaurantbranche, getroffen hat. Diese gesamte Aktienübergabe, zu deren finanziellen Bedingungen keine Einzelheiten bekanntgegeben wurden, zielt darauf ab, die Angebote von Serve durch die Integration von Vebus Küchenautomatisierungslösungen, einschließlich des Autocado-Roboters, der die Verarbeitung von Avocados automatisiert, zu verbessern. Der Gründer von Vebu, Buck Jordan, wird als SVP für Küchenautomatisierung zu Serve stoßen. Diese Übernahme soll wichtige Synergien freisetzen, die Marktchancen von Serve erweitern und Partnerschaften mit großen Restaurantketten wie Chipotle stärken.
- Expansion of Serve's automation offerings beyond delivery.
- Enhanced strategic positioning in the restaurant industry.
- Potential to address labor shortages with Vebu's technology.
- Strengthened partnerships with major restaurant chains like Chipotle.
- Increased market opportunities through comprehensive automation solutions.
- None.
Acquisition deepens Serve's offerings for the restaurant industry, helping partners improve efficiency and manage labor shortage challenges from kitchen to curb
The acquisition strengthens Serve's strategic positioning by providing its restaurant partners with a suite of automation solutions and expanding Serve's offering beyond delivery into back of house automation. Vebu will help Serve become a more integral partner to restaurants, accelerating partner adoption as Serve expands its geographic footprint in new cities across the
Vebu's signature robotic product is the Autocado, the pioneering avocado-processing robot which eliminates the need for restaurant workers to spend hours cutting, coring and scooping avocados to prepare guacamole. The Autocado allows employees to load up to 25 pounds of avocados into the device and walk away to focus on serving customers and preparing other items. It is now in pilot testing in Chipotle's
In addition, the transaction is expected to unlock key synergies:
- Expanding Partnerships: Vebu's partnership with leading restaurant companies such as Chipotle will extend Serve's existing business relationships, which include Shake Shack and 7-Eleven, among others.
- Expanding Serve's Market Opportunity: This acquisition complements Serve's recent expansion into delivery over all distances through its partnership with Alphabet's Wing Aviation subsidiary, making Serve one of the most comprehensive automation providers in the restaurant industry.
Vebu's founder and CEO Buck Jordan will join Serve Robotics as SVP of Kitchen Automation. He will continue to lead the Vebu team, overseeing Autocado's continued development and driving additional innovations on the product roadmap. Mr.
"By adding Vebu's pioneering kitchen automation capabilities to our autonomous delivery offering, we are uniquely positioned to utilize robotics and AI to solve the labor shortages plaguing the restaurant industry. This acquisition underscores our commitment to helping our partners operate more efficiently and to expanding our partnerships with national chain restaurants like Chipotle. We are thrilled to be joined by an accomplished team pioneering an innovative technology, operating as a separate business unit within our organization," said Dr. Ali Kashani, CEO and co-founder of Serve Robotics.
Buck
Vebu joins Serve with a balance sheet that supports its operations to complete its pilot with Chipotle. This acquisition strengthens Serve's core business and long-term strategy to be a leader in restaurant automation.
About Serve Robotics
Serve develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. The company has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple
For further information about Serve Robotics (Nasdaq:SERV), visit www.serverobotics.com or follow us on social media via X (Twitter), Instagram, or LinkedIn @serverobotics.
About Vebu Inc.
Vebu is a full stack Automation, Robotics, and Intelligence company focused on building technology solutions for and with the broad food industry. With a partner driven team of experts spanning engineering, robotics, artificial intelligence, and product development, Vebu is building products to help humans do more. For further information, visit vebulabs.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Serve intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act. These forward-looking statements can be about future events, including statements regarding Serve's intentions, objectives, plans, expectations, assumptions and beliefs about future events, including Serve's expectations with respect to the financial and operating performance of its business, its capital position, and future growth. The words "anticipate", "believe", "expect", "project", "predict", "will", "forecast", "estimate", "likely", "intend", "outlook", "should", "could", "may", "target", "plan" and other similar expressions can generally be used to identify forward-looking statements. Indications of, and guidance or outlook on, future earnings or financial position, performance, or outcomes from our planned acquisition described in this press release are also forward-looking statements. Any forward-looking statements in this press release are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statements include those risks and uncertainties set forth in Serve's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the United States Securities and Exchange Commission (the "SEC") and in its subsequent filings filed with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Serve undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Contact
Media
Aduke Thelwell, Head of Communications & Investor Relations
Serve Robotics
press@serverobotics.com
Investor Relations
investor.relations@serverobotics.com
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SOURCE Serve Robotics Inc.
FAQ
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