Teradyne, Inc. announced the acquisition of Mobile Industrial Robots (MiR) in a bid to expand into the collaborative autonomous mobile robot (AMR) market.
Teradyne, Inc. (NYSE:TER) and the shareholders of Mobile Industrial Robots (MiR) announced the acquisition of privately held MiR for €121 million ($148 million) net of cash acquired plus €101 million ($124 million at current exchange rate) if certain performance targets are met extending through 2020. MiR is a supplier of collaborative autonomous mobile robots (AMRs) for industrial applications. The AMR market is an emerging category within the approximately $1.1 billion logistics systems segment of the professional services robot market and is expected to grow rapidly in the years ahead.
"We are excited to have MiR join Teradyne’s widening portfolio of advanced, intelligent, automation products," said Mark Jagiela, President and CEO of Teradyne.
"Joining Teradyne allows us to advance our engineering and development investments to provide greater value to our customers and further expand our market leadership in industrial autonomous mobile robots," said Thomas Visti, CEO of MiR.
Teradyne, Inc.
Mobile Industrial Robots (MiR)
MiR | Automate your internal transportation | Mobile Industrial Robots
– Edited from a Teradyne press release by CFE Media. See more Control Engineering robotics stories.
