Electronic testing company completes acquisition of robotics company

Teradyne, a provider of electronic testing equipment, has completed its acquisition of Denmark-based Universal Robots for $285 million to help expand the company's global reach and provide them with a early access to an emerging market on the verge of rapid growth.

07/16/2015


Teradyne, a provider of electronic testing equipment, has completed its acquisition of Denmark-based Universal Robots for $285 million to help expand the company's global reach and provide them with a early access to an emerging market on the verge of rap

Teradyne, a provider of electronic testing equipment, has completed its acquisition of Denmark-based Universal Robots for $285 million. Universal Robots, which was founded in 2005, specializes in developing collaborative robots, which are designed to work and interact safely with production workers to improve quality and increase manufacturing efficiency on the plant floor. The company's robots are designed to perform automated tasks such as machine tending, packaging, painting, polishing, and assembling parts. They are designed for industries such as food and beverage, chemical and pharmaceutical, and metal and machining.

Universal Robots recently moved into a 130,000-sq-ft facility in Odense, Denmark (100 miles east of Copenhagen) and have grown their network of integrators and distributors to almost 200 worldwide. The company achieved $38 million in sales for 2014, which was 70% greater than their 2013 sales. The $100 million collaborative robotics market, which is growing at a rate of more than 50% per year, gives Teradyne early access to an emerging market that is poised for continued rapid growth.

The company also recently released their line of smaller UR3 robots. The UR3 is designed to handle payloads of up 6.6 lb and can perform tasks such as mounting small objects, operating tools, soldering, and painting in scientific, pharmaceutical, agriculture, and electronics and technology facilities.

Teradyne will provide Universal Robots with revenue synergies and a global reach that will help accelerate Universal Robots' growth, but the company will operate as an independent business unit. The agreement calls for $285M in cash and an additional $65M if certain performance targets are met through 2018 thereby bringing the overall sales price to $350 million.

 

Teradyne

www.teradyne.com 

Universal Robots

www.universal-robots.com 

- Edited by CFE Media. See more Control Engineering robotics stories.

 



No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Sensor-to-cloud interoperability; PID and digital control efficiency; Alarm management system design; Automotive industry advances
Make Big Data and Industrial Internet of Things work for you, 2017 Engineers' Choice Finalists, Avoid control design pitfalls, Managing IIoT processes
Engineering Leaders Under 40; System integration improving packaging operation; Process sensing; PID velocity; Cybersecurity and functional safety
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
Flexible offshore fire protection; Big Data's impact on operations; Bridging the skills gap; Identifying security risks
The digital oilfield: Utilizing Big Data can yield big savings; Virtualization a real solution; Tracking SIS performance
click me