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WELBILT, INC.

(WBT)
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Welbilt KitchenConnect and HCL Technologies Join Forces to Offer a Secured Cloud Solution for The Food Industry Built Using Microsoft Azure IoT

11/04/2021 | 05:01am EST

Welbilt, Inc. (NYSE: WBT), a leading provider of commercial foodservice equipment, announced today that it will integrate Microsoft Azure Sphere to upgrade security in its KitchenConnect® internet-connected equipment and will host the solution on Microsoft Azure through a new partnership with HCL Technologies.

Welbilt KitchenConnect is an award-winning open cloud solution that offers a digital platform for internet-connected equipment in the foodservice industry. The integration of Azure Sphere in the KitchenConnect solution will add new security capabilities to keep connected equipment protected over time and to provide secured communication between devices and the KitchenConnect platform. The KitchenConnect solution improves efficiency, reduces cost, and enhances food quality by helping customers leverage telemetry to optimize their kitchen operations.

HCL will develop and enhance the KitchenConnect security solution with Azure Sphere and provide an advanced architecture for improved scalability, security, and functionality on the Microsoft Azure IoT platform. HCL is a mutual partner to Welbilt and Microsoft and brings a team of experts across IoT, Security, Data Analytics, Artificial Intelligence, Machine Learning, and mobile technologies to drive the accelerated development of KitchenConnect with Microsoft IoT solutions.

“At Welbilt, we are accelerating innovation through our partners and leading the digital space in the foodservice industry to continuously offer the best solution for our customers,” said Bill Johnson, Welbilt’s President and CEO.

Omar Jacques Omran, Welbilt’s Sr. Director for KitchenConnect, noted, “We are excited by all the opportunities presented by Microsoft and HCL, taking our KitchenConnect security and cloud solution to a new level with Microsoft Azure IoT and Azure Sphere. This step will also make it simpler for operators to connect their entire equipment fleet in the restaurant.”

“Welbilt is exceeding our most demanding customer security requirements by using Microsoft Azure Sphere to securely connect equipment and securely communicate telemetry, in addition to using the cloud hosting solution from Microsoft Azure,” stated Chris Glomski, Welbilt’s Chief Information Officer.

Michael Kuptz, General Manager, Azure IoT at Microsoft Corp noted, “Welbilt’s expertise in the commercial kitchen equipment market, coupled with HCL, a premier Azure IoT system integrator, is a powerful collaboration and resource for our customers. Welbilt equipment is securely connected and protected with Azure Sphere. Azure also enables advanced IoT capabilities and analytics for customers around the world through HCL’s global system integrator footprint.”

“HCL Technologies is excited to further our existing strategic relationships with both Welbilt and Microsoft to enhance KitchenConnect, the most advanced digital solution in the foodservice industry. HCL will leverage its strong Digital Transformation capabilities in Cloud, IoT, AI, Analytics, and Cybersecurity, and its ecosystem partnerships, to accelerate KitchenConnect’s success in the industry,” said Hari Sadarahalli, Corporate Vice President, Engineering and R&D Services, HCL Technologies.

“We are pleased to be collaborating with KitchenConnect, as it revolutionizes the way consumers use technology in the foodservice industry. HCL Cloud Smart including HCL IoT solutions with Azure Sphere will safely and securely connect all types of legacy and new equipment and appliances to the internet, thus enabling Welbilt clients to reimagine and transform their businesses with new product offerings, customer experiences, and unique business models,” said Kalyan Kumar, CTO and Global Head of Ecosystems at HCL Technologies.

About Welbilt, Inc.

Welbilt, Inc. provides the world’s top chefs, premier chain operators and growing independents with industry-leading equipment and solutions. Our innovative products and solutions are powered by our deep knowledge, operator insights, and culinary expertise. Our portfolio of award-winning product brands includes Cleveland™, Convotherm®, Crem®, Delfield®, Frymaster®, Garland®, Kolpak®, Lincoln®, Manitowoc® Ice, Merco®, Merrychef® and Multiplex®. These product brands are supported by three service brands: KitchenCare®, our aftermarket parts and service brand, FitKitchen®, our fully-integrated kitchen systems brand, and KitchenConnect®, our cloud-based digital platform brand. Headquartered in the Tampa Bay region of Florida and operating 19 manufacturing facilities throughout the Americas, Europe and Asia, we sell through a global network of over 5,000 distributors, dealers, buying groups and manufacturers' representatives in over 100 countries. We have approximately 4,700 employees and generated sales of $1.2 billion in 2020. For more information, visit www.welbilt.com.


ę Business Wire 2021
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Financials (USD)
Sales 2021 1 507 M - -
Net income 2021 81,3 M - -
Net Debt 2021 - - -
P/E ratio 2021 43,2x
Yield 2021 -
Capitalization 3 378 M 3 378 M -
Capi. / Sales 2021 2,24x
Capi. / Sales 2022 2,05x
Nbr of Employees 4 400
Free-Float 99,4%
Chart WELBILT, INC.
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Welbilt, Inc. Technical Analysis Chart | WBT | US9490901041 | MarketScreener
Technical analysis trends WELBILT, INC.
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 6
Last Close Price 23,74 $
Average target price 24,00 $
Spread / Average Target 1,10%
EPS Revisions
Managers and Directors
William C. Johnson President, Chief Executive Officer & Director
Martin D. Agard Chief Financial Officer & Executive Vice President
Cynthia M. Egnotovich Chairman
Dino J. Bianco Independent Director
Joan Kai Chow Independent Director
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