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Rethink Robotics closes shop
The collaborative robotics pioneer has reportedly closed shop, affecting 91 employees. It was a short lived run; 10 year since its inception the company is hanging up the gloves.
Rethink Robotics CEO Scott Eckert first confirmed the news via email to The Robot Report. “I can confirm that unfortunately the news is true, Rethink Robotics closed its doors today.”
In a statement to the Boston globe the CEO explains that they were working on a deal under which Rethink would be acquired. However, the buyer backed out and the deal fell through. The company is now planning to start selling its patent portfolio and related IP.
“We were pioneers and innovators in the industry and responsible for the creation of the collaborative robot category, but unfortunately we didn’t quite achieve the market success we had intended. We have been helping our team find new homes and have been overwhelmed with interest,” the emailed statement to The Robot Report continues.
