Universal Robots and Teradyne, Inc. Announce Agreement for Teradyne to Acquire Universal Robots
Teradyne, Inc. and Universal Robots announced they have signed a definitive agreement under which Teradyne will acquire privately held Universal Robots, the Danish pioneer of collaborative robots, for $285 million net of cash acquired plus $65 million if certain performance targets are met extending through 2018. The acquisition has been approved by the Board of Directors of each company and is expected to close in the second quarter of 2015 subject to customary closing conditions and regulatory approval.
"Universal Robots is the technology and sales leader in the fast growing collaborative robot market and we are excited to have them join Teradyne," said Mark Jagiela, President and CEO of Teradyne. "This acquisition complements our System and Wireless Test businesses while adding a powerful, additional growth platform to Teradyne.”
Universal Robots Story:
“The secret behind the success of Universal Robots is a clear strategy based on these three key goals: focus, simplicity and tough execution. The founders and the management have worked incredibly hard to realize their vision
of making collaborative robot technology available to all businesses,” said Clas Nylandsted, Chairman of the Board, Universal Robots.
Founded in 2005, Esben Østergaard, Kasper Støy and Kristian Kassow, set out to replace heavy, expensive and unwieldy robots which dominated robotics with a more user-friendly option. They came up with the idea of creating a light robot that is easy to install and program while analyzing the special requirements for robots in the food industry. In 2009, the first UR5 robots were available on the Danish and German market. Since then, the company has expanded steadily and is dedicated to bringing safe, flexible and easy to use robots to business of every size, all over the world.
The Danish company has taken the world by storm with unique industrial robots that optimize production in ever expanding markets and countless industries. By offering a user-friendly, affordable robot, Universal Robots lowers the automation barrier enabling automation in areas previously considered too complex or costly. They have become the leading supplier of collaborative robots; low-cost, easy-to-deploy and simple-to -program robots that work side by side with production workers to improve quality and increase manufacturing efficiency. Their approach enables production departments to assign their staff members more enjoyable tasks – creating jobs that provide them with new challenges that add value to the company.
What makes Universal Robots so successful? Not only do they make robot technology accessible to all levels of industry, but they are globally responsible and have high corporate values. Universal Robots achieved record revenue growth in 2014. Company revenue increased 70 percent from 2013 reaching more than $38 million USD with profit more than doubling from the prior period.
Universal Robots are dedicated to making the world a better place,
one robot at a time.
Hutchinson and Bloodgood LLP Partner: Hanne LeLoup, San Diego
@ 2016 Hutchinson and Bloodgood LLP