Teradyne acquires MiR
May 15, 2018 - Teradyne and the shareholders of Mobile Industrial Robots (MiR) have announced the acquisition of privately held MiR of Odense, Denmark, for €121 million (roughly US$148 million) net of cash acquired plus €101 million (US$124 million) if certain performance targets are met extending through 2020.
MiR is a supplier of collaborative autonomous mobile robots (AMRs) for industrial applications, an emerging category within the approximately $1.1 billion logistics systems segment of the professional services robot market.
“We are excited to have MiR join Teradyne’s widening portfolio of advanced, intelligent, automation products,” said Mark Jagiela, president and CEO of Teradyne. “Like Universal Robots’ collaborative robots, MiR collaborative AMRs lower the barrier for both large and small enterprises to incrementally automate their operations without the need for specialty staff or a re-layout of their existing workflow. This, combined with a fast return on investment, opens a vast new automation market. Following the path proven with Universal Robots, we expect to leverage Teradyne’s global capabilities to expand MiR’s reach.”
“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,” added Thomas Visti, CEO of MiR. “Teradyne’s worldwide reach, world-class engineering and support capabilities, financial strength and proven model for leveraging those strengths will help us grow in new and existing markets worldwide.”