Teradyne’s acquisition of MiR, forerunner in collaborative autonomous mobile industrial robots

Teradyne, and the shareholders of Mobile Industrial Robots (MiR) today announced the acquisition of privately held MiR of Odense, Denmark 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 leading 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.  “MiR is the market leader in the nascent, but fast growing market for collaborative autonomous mobile robots (AMRs).  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.”

Source: https://globenewswire.com