Mobile robotics
Teradyne takes over Mobile Industrial Robots
Teradyne, a provider of automation technology for test and industrial applications, and the shareholders of Mobile Industrial Robots (MiR) have announced the acquisition of the previously privately held company. The purchase price is 121 million euros.
Mobile Industrial Robots, based in Odense, Denmark, was founded in 2013 by experienced minds from the Danish robotics industry. MiR develops and distributes autonomous, collaborative mobile robots for in-plant transportation in the industrial and healthcare sectors. The pioneer in mobile robotics has quickly established a global distribution network with dealers in more than 40 countries and regional offices in San Diego, Singapore, Dortmund, Barcelona, Shanghai and New York. Since its foundation, MiR has recorded steep growth, increasing by 500% from 2015 to 2016 alone and by 300% from 2016 to 2017.
Specifically, MiR achieved an annual turnover of 12 million dollars in 2017. In the first quarter of 2018 alone, turnover amounted to USD 5 million. In addition to the purchase price of EUR 121 million, Teradyne will pay a further EUR 101 million for MiR if certain performance targets are met up to and including 2020. Teradyne generated sales of USD 2.14 billion in 2017 and currently employs around 4,500 people worldwide.
In 2015, Teradyne had already acquired Universal Robots, a pioneer in lightweight robotics also based in Denmark, for 285 million US dollars. "We are pleased to add Mobile Industrial Robots to Teradyne's growing portfolio of intelligent automation products," says Mark Jagiela, President and CEO of Teradyne, adding: "Building on the successful path we have taken with Universal Robots, we expect to leverage Teradyne's global capabilities to extend the reach of MiR."
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