© AutoGuide Mobile Robots Electronics Production | October 21, 2019
Teradyne strikes deal for AutoGuide Mobile Robots
Massachusetts-based Teradyne has entered into a definitive agreement to acquire privately held AutoGuide for USD 165 million.
The deal includes USD 58 million net of cash acquired plus USD 107 million upon meeting of performance targets through 2022. The acquisition is expected to close in the fourth quarter of 2019. AutoGuide, also based in Massachusetts, provides autonomous mobile robots (AMRs) for material transport of payloads up to 10,000 pounds (4,500 kg) for the manufacturing, warehouse and logistics markets. Products include the Max N10 Tugger, Pallet Stacker and SurePath fleet management software. This year, the company is expected to more than double its revenue from approximately USD 4 million in 2018. Teradyne President and CEO Mark Jagiela said, “The high-payload AMR market is an emerging, fast-growing segment of the global forklift market. AutoGuide’s modular architecture and innovative technologies provide safe, easy-to-deploy products that naturally complement our MiR low- to mid-payload AMRs, extending Teradyne’s reach in this attractive market…We look forward to helping AutoGuide grow by developing their global sales and support capabilities, while continuing to strengthen and expand their innovative product lineup.” Rob Sullivan, president and CEO of AutoGuide said, “The combined strength of Teradyne's industrial automation businesses and AutoGuide's product lines offer new opportunities to create end-to-end automation solutions for customers seeking the safest and most productive material-handling operations from a single source. Teradyne’s financial strength and global reach will help support AutoGuide’s growth, enabling us to maintain our agile approach to the development and deployment of high-value automation systems that bring industry leading value to our customers.”