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Serve Robotics to Acquire Autocado Robot Maker Vebu, Expanding Automation Offering

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Acquisition deepens Serve’s offerings for the restaurant industry, helping partners improve efficiency and manage labor shortage challenges from kitchen to curb

SAN FRANCISCO, Nov. 7, 2024 /PRNewswire/ — Serve Robotics Inc. (“Serve”) (Nasdaq: SERV), a leading autonomous robotic delivery company, today announced its agreement to acquire the assets of Vebu Inc. (“Vebu”), a trailblazer in full-stack automation and robotics solutions for restaurant partners. Financial terms of the all-stock transaction were not disclosed.

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 U.S.

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 Huntington Beach, Calif. restaurant.

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. Jordan, a serial entrepreneur who previously founded Miso Robotics, brings deep expertise and connections in kitchen automation. His experience in the sector, combined with Vebu’s innovation, will bolster Serve’s ability to address the labor shortages faced by the restaurant industry.

“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 Jordan, founder and CEO of Vebu, commented, “I am thrilled to join the Serve Robotics team, which I have known and supported since the early days as an investor. This is an exciting opportunity to merge our expertise and bring groundbreaking automation to a wider audience. Together, we will provide a suite of automation solutions that will change the future of restaurant operations.”

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 U.S. markets.

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.

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PayrollOrg’s Chapter Leadership Summit to Equip Payroll Chapter Leaders with Tools for Success

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November 7, 2024

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LAS VEGAS, Nov. 7, 2024 /PRNewswire/ — PayrollOrg (PAYO) will provide local chapter leaders with the essential tools and guidance they need to ensure the ongoing success of their chapters at the Chapter Leadership Summit, November 7 – 8 in Las Vegas, Nevada.

“Supporting our chapter leaders is crucial to the growth and sustainability of local chapters,” said Dan Maddux, executive director of PayrollOrg. “The Chapter Leadership Summit is designed to not only provide practical tools and strategies but also foster a strong network of motivated leaders who can inspire their teams and communities.”

Participants will have the unique opportunity to connect with fellow leaders, exchange ideas, and develop strategies to motivate their chapter members. Tailored educational sessions will offer specialized training on critical topics such as fiscal responsibility, general chapter operations, and event planning. These sessions will be led by guest speakers with expertise in chapter management and leadership development.

The conference will be held at MEET Las Vegas in downtown Las Vegas. Visit PAYO online to view the full conference agenda. The event is sponsored by Wisely by ADP.

PayrollOrg is the leader in payroll education, publications, and training. Visit PAYO online at www.payroll.org.

View original content to download multimedia:https://www.prnewswire.com/news-releases/payrollorgs-chapter-leadership-summit-to-equip-payroll-chapter-leaders-with-tools-for-success-302299403.html

SOURCE PayrollOrg

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New features revealed for PaperCut Hive cloud print management solution

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November 7, 2024

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Groundbreaking enhancements improve print management with intelligent job routing, advanced security protocols, low-touch onboarding, and cost-tracking tools, redefining industry standards.

PORTLAND, Ore., Nov. 7, 2024 /PRNewswire/ — PaperCut Software, a global leader in print management solutions, announces the latest feature upgrades to PaperCut Hive, its cloud-native print management solution. This release, including intelligent print job routing, advanced security with SSO and MFA, and comprehensive print cost tracking, empowers organizations to streamline printing while enhancing security and efficiency across all user levels.

With innovations such as “Autopilot” intelligent print job routing, customizable print delivery profiles, and SAML-based Single Sign-On (SSO) with Multi-Factor Authentication (MFA), PaperCut Hive is now more adaptable than ever. The updates aim to make secure, efficient printing accessible for businesses of all sizes, providing admins with greater control and flexibility over their printing infrastructure.

“PaperCut Hive’s latest features redefine what’s possible in cloud-native print management,” said Keith O’Brien, Head of Cloud Products at PaperCut. “We’ve developed tools that give admins unprecedented control over print routing and security while delivering an intuitive, low-touch experience for end users. By simplifying onboarding and reducing the burden on IT, PaperCut Hive continues to bring scalable, secure print management to organizations of all sizes.”

Key enhancements include the following:

Autopilot Intelligent Routing: The new Autopilot feature selects optimal print nodes automatically, ensuring efficient print delivery in any network environment.Advanced Print Delivery Profiles: Allows IT administrators to customize print job routing based on unique organizational needs, optimizing efficiency.Enhanced Security with SAML SSO and MFA: Provides secure, unified access for admins and end users, integrating seamlessly with existing enterprise systems.Comprehensive Cost Tracking: New financial tools give visibility over print and copy expenses, promoting accountability and encouraging cost-saving measures.Intuitive, Self-Serve User Onboarding: Low-touch onboarding lets end users set up their devices independently, freeing up IT resources.

This release also includes expanded support for major printer brands with new Kyocera and Lexmark apps, ensuring compatibility with a broader range of devices and simplifying the setup for organizations of any size.

 

View original content:https://www.prnewswire.com/news-releases/new-features-revealed-for-papercut-hive-cloud-print-management-solution-302299431.html

SOURCE PaperCut Software

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Acclime enters strategic partnership with Danish Industry

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November 7, 2024

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SINGAPORE, HONG KONG and COPENHAGEN, Denmark, Nov. 8, 2024 /PRNewswire/ — Acclime, providing businesses with corporate, governance, and advisory services throughout Asia and major markets, announces today that it has entered a strategic partnership with Danish Industry (DI) to provide high-end corporate and professional services to the members of DI in the markets where Acclime operates.

DI is a private business and employers’ organisation representing more than 20,000 member companies in Denmark, making it the country’s largest commercial association. DI helps its members transform global opportunities into business successes, with 1,200 employees dedicated to the task in Copenhagen, Brussels, Mumbai, Chennai, New York, Shanghai, Berlin, Nairobi and Seoul. There are also associated partner offices in Australia, Brazil and Mexico.

In the partnership agreement between DI and Acclime today, DI’s operations in Shanghai will become an integral part of the Acclime Group in line with DI’s strategy of expanding its presence across the Asia-Pacific region to greater service Danish and other Scandinavian businesses.

Acclime has operational centres in 14 markets across the Asia-Pacific region. Its Greater China reach includes offices in Beijing, Shanghai, Shenzhen, Guangzhou and Hong Kong. Acclime boasts more than 1,400 professionals working to provide its 16,000+ clients with advisory, market entry, business compliance, accounting, tax, payroll and legal solutions. This positions Acclime as the ideal service provider for DI’s members as they seek to expand their Asian presence.

Mr. Izzy Silva, CEO of Acclime, commented: “We welcome this partnership as it clearly increases our reach and forms a strong link to businesses across Scandinavia wishing to expand operations in Asia. We look forward to introducing our services to DI’s existing clients and new members who are looking east.”

DI’s Deputy CEO, Mr. Thomas Bustrup, added: “I was in Shanghai at the beginning of DI’s operations there in 2003 and have seen how the team have expertly assisted Danish companies with their China expansions. Bringing in Acclime’s expertise and strength allows us to become a better part of our members’ full expansion journey across the entire Asia-Pacific region. This has long been a dream of ours, and we are excited to see this new potential.”

Managing Director of DI Asia Base in Shanghai, Mr Glen Mikkelsen, and his team of 20 professional staff will transfer with the business across to Acclime China. A comprehensive program of marketing outreach activities is planned to the DI membership base to inform them of the new services and markets available via this strategic partnership with Acclime.

About Acclime

Acclime provides businesses with corporate, governance, and advisory services. It operates in 14 countries, employing over 1,400 dedicated professionals. The firm provides a comprehensive range of professional services and business advisory to help businesses navigate complex regulatory environments and achieve their goals at all stages of the business life cycle.

About Danish Industry

Danish Industry (DI) is Denmark’s largest, most representative and most influential business and employers’ organisation, covering manufacturing as well as service industries across sectors such as transport, energy, IT, health, trade and professional services. DI helps Danish companies every day in their efforts to win in international markets and turn global opportunities into successful businesses – locally, nationally and internationally.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/acclime-enters-strategic-partnership-with-danish-industry-302298390.html

SOURCE Acclime

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