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This yr, we coated practically 50 mergers and acquisitions price billions of {dollars}. The SPAC craze of 2021 seemingly got here to a crashing halt, however there was nonetheless loads of M&A exercise.
Below are 10 robotics acquisitions, in chronological order, that stood out to us in 2022 and two notable mergers. Take a glance again on the notable acquisitions of 2021.
Subscribe to The Robot Report Newsletter or take heed to The Robot Report Podcast to remain up to date on the robotics tales you might want to find out about. For all of the mergers and acquisitions, try our particular part.
Aptiv acquires Wind River
Date Announced: Jan. 11, 2022
Amount: $3.5B
Aptiv kicked off the yr with a bang, asserting it was acquiring Wind River for $4.3 billion. The deal simply closed on Dec. 23, however at a cheaper price level of $3.5 billion. The corporations mentioned the worth was amended due to sure adjustments in Wind River’s working construction required to convey the regulatory approval course of to a passable conclusion.
Aptiv, a worldwide mobility firm, in 2019 together with Hyundai Motor Group fashioned the autonomous driving three way partnership now often known as Motional. Wind River is a worldwide chief in growing software program for the sting. Its software program is used on greater than two billion edge units throughout greater than 1,700 clients globally. Wind River generated roughly $400 million in income in 2021. Intel acquired Wind River in 2008 for $884 million. Intel offered Wind River to TPG Capital in 2018 for an undisclosed quantity.
Aptiv mentioned the acquisition permits it to execute in opposition to the massive software-defined mobility alternative and increase into a number of industries. Aptiv mentioned it can mix Wind River Studio, a cloud-native clever techniques software program platform, with its SVA platform and automotive experience.
Zebra Technologies acquires Matrox Imaging
Date Announced: March 15, 2022
Amount: $875M
Zebra Technologies acquired Matrox Imaging for $875 million. Matrox Imaging develops machine imaginative and prescient parts and techniques and generates annual gross sales of roughly $100 million.
Matrox affords platform-independent software program, software program growth kits (SDKs), good cameras, 3D sensors, imaginative and prescient controllers, enter/output (I/O) playing cards, and body grabbers that are used to seize, examine, assess, and report information from industrial imaginative and prescient techniques in manufacturing facility automation, electronics and pharmaceutical packaging, semiconductor inspection, and extra.
Zebra Technologies in 2021 acquired Adaptive Vision, a machine imaginative and prescient software program firm, and launched its personal line of fastened industrial scanning and machine imaginative and prescient techniques. Zebra mentioned the Matrox Imaging deal will complement the aforementioned merchandise.
The deal expanded Zebra’s presence within the automation market. In 2021, Zebra acquired Fetch Robotics, a San Jose, Calif.-based developer of autonomous cellular robots for $290 million.
Bosch Rexroth acquires cobot maker Kassow
Date Announced: March 21, 2022
Amount: Undisclosed
Kassow Robots is growing 7-DOF cobot arms. (Credit: Kassow Robots)
Bosch Rexroth acquired the bulk stake in Kassow Robots, a Denmark-based developer of 7-axis collaborative robotic arms. Bosch mentioned the acquisition allows it to supply one-stop options, particularly for the patron items and mobility trade together with battery manufacturing in addition to for semiconductor manufacturing. Kassow has 5 cobots in its portfolio, together with reaches from 850mm to 1800mm and payloads from 5kg to 18kg.
Kassow Robots exited stealth mode at Automatica 2018. It was co-founded in 2014 by Kristian Kassow, the previous co-founder of Universal Robots, which is the main developer of cobots. Founded in 2005 by Kassow, Esben Østergaard and Kasper Støy, Universal Robots was acquired a mere 10 years later by Teradyne for $285 million.
Sarcos buys RE2 Robotics
Date Announced: March 28, 2022
Amount: $100M
Sarcos Technology and Robotics Corporation acquired RE2 Robotics, a Pittsburgh-based developer of autonomous and teleoperated cellular robotic techniques, for $100 million. The deal consists of $30 million in money and $70 million of Sarcos frequent inventory. Both corporations have had long-term success with army and protection clients, however they by no means collaborated.
The mixed firm now affords an prolonged product portfolio, which can allow it to focus on a wider spectrum of buyer wants throughout the industrial (aviation, building, medical and subsea) and protection sectors. For instance, the corporate has been working with Changi Airport Group to develop an outdoor-based baggage loading system that may automate the loading and unloading of free passenger baggage from a narrow-bodied plane.
American Robotics acquires Airobotics
Date Announced: July 5, 2022
Amount: Undisclosed
American Robotics acquired Airobotics, an Israeli developer of autonomous unmanned plane techniques (UAS). The acquisition is meant to speed up American Robotics’ technical growth and regulatory roadmap and increase the breadth of purposes, use circumstances and vertical targets.
Combining American Robotics and Airobotics additionally means bringing collectively main engineering and aviation expertise and two world-class expertise platforms. In January 2021, Marlborough, Mass.-based American Robotics grew to become the primary firm accredited by the Federal Aviation Administration to function absolutely autonomous drones with out visible observers on-site. Before this approval, waivers and certifications awarded by the FAA required visible observers to be stationed alongside the flight path to observe a drone’s airspace.
Amazon shopping for iRobot
Date Announced: August 5, 2022
Amount: $1.7B
Amazon agreed to purchase shopper robotics big iRobot for $1.7 billion again in August, however the deal is beneath evaluate by the Federal Trade Commission (FTC). The antitrust investigation is specializing in whether or not the info offered by iRobot’s Roomba robotic vacuum offers Amazon an unfair benefit within the retail trade. The FTC can also be analyzing how the road of robotic vacuums would slot in with Amazon’s current good dwelling merchandise.
Amazon and that iRobot have had a relationship relationship again to 2005 earlier than iRobot went public. iRobot listed Explore Holdings LLC as an investor and named Elizabeth Korrell as its supervisor. Explore Holdings was one other identify for Bezos Expeditions, Jeff Bezos’ private funding agency on the time, and Elizabeth Korrell was an legal professional for Bezos. Beyond that, iRobot makes use of Amazon Web Services (AWS) and developed voice integration between Alexa and the Roomba.
Both corporations may seemingly profit from this deal. Amazon has struggled to enter the patron robotics market and underwhelmed the trade with its Astro robotic. iRobot’s second quarter income fell 30% this yr attributable to weak demand and cancellations from retailers in North America and Europe, Middle East and Africa. The firm additionally warned of weaker development going ahead. iRobot has diversified its product portfolio lately with non-robotics merchandise, together with a handheld vacuum and air purifiers.
Walmart acquires ASRS maker Alert Innovation
Date Announced: October 6, 2022
Amount: Undisclosed
Walmart, the world’s largest retailer, agreed to accumulate Alert Innovation for an undisclosed worth. Alert Innovation is a North Billerica, Mass.-based developer of robotic e-grocery success applied sciences.
Walmart started working with Alert Innovation in 2016 to construct customized expertise for its micro-fulfillment facilities (MFCs). Walmart piloted its first MFC in Salem, N.H. in late 2019 utilizing customized expertise from Alert Innovation. The autonomous robotic, named Alphabot, can retailer, retrieve and dispense orders by transferring horizontally, laterally and vertically throughout three temperature zones with none lifts or conveyors.
At the time of the deal, Walmart mentioned that “bringing the best of Alert’s technology and capabilities in-house will enable us to reach more customers quicker by deploying MFCs with greater speed, providing both an unmatched shopping experience and a competitive advantage in omnichannel fulfillment.”
Intrinsic acquires Open Source Robotics Corp
Date: Dec.15, 2022
Amount: Undisclosed
Intrinsic, a software program firm that launched out of the X moonshot division of Alphabet in mid-2021 to simplify using industrial robots, acquired the Open Source Robotics Corporation (OSRC). The OSRC is the for-profit arm of Open Source Robotics Foundation, which is the developer of the favored Robot Operating System (ROS). Intrinsic can also be buying Open Source Robotics Corporation Singapore (OSRC-SG), the division of the corporate that led on to the discharge of Open-RMF for interoperability.
To be clear, Intrinsic didn’t purchase the Open Source Robotics Foundation (OSRF), the non-profit that has and can proceed to be answerable for the day-to-day actions and growth of ROS, Gazebo, Open-RMF and all the ROS group.
Here’s why this deal is essential going ahead.
“As a small independent company at OSRC, it’s become increasingly challenging for us to meet the diverse needs of our large and growing user community and continue the commercial business of OSRC,” mentioned Brian Gerkey, co-founder and now-former CEO of Open Robotics, who’s becoming a member of Intrinsic together with a lot of his colleagues. “Greater institutional help from Intrinsic and the assets from this transaction permit our workforce to deal with what we do finest and speed up the event of ROS, Gazebo, and Open-RMF in a sustainable manner.
“Together we will give the robotics community great new features in ROS, Gazebo, and Open-RMF, while also building new products and services on top. We will continue to improve ROS, Gazebo, and Open-RMF so that they can be used in even more domains, with ever-higher demands for software quality, testing, and platform support.”
Notable mergers
There had been additionally a number of notable mergers throughout 2022. Teradyne corporations Mobile Industrial Robots (MiR) and AutoGuide Mobile Robots merged to grow to be a single provider of autonomous cellular robots (AMRs). At the top of September 2022, the built-in firm formally grew to become often known as Mobile Industrial Robots (MiR).
Prior to the merger, MiR provided a variety of AMRs able to carrying payloads and pallets as much as 3,000 lb. (1350 kg). By combining with AutoGuide, the portfolio will increase to incorporate excessive payload AMR tuggers and forklifts that may function on the MiRFleet software program.
Another notable merger passed off between LiDAR makers Ouster and Velodyne. At press time, this merger wasn’t full, however the mixed firm plans to leverage the complementary buyer base, companions and distribution channels to speed up LiDAR adoption. Combined, Ouster and Velodyne have 173 granted and 504 pending patents, and a money stability of roughly $355 million as of the top of September 2022.