Teradyne, Inc. is expanding its stable of industrial automation products through the acquisition of Denmark-based Mobile Industrial Robots (MiR) for $148 million, in a move to carve out a stake in the growing market for collaborative autonomous mobile robots.
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, in a statement. "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. ”
In 2017, MiR generated sales of $12 million USD, more than triple 2016 revenues. MiR earned $5 million in the first quarter of 2018.
“My main focus is to get our mobile robots out to the entire world,” said Niels Jul Jacobsen, CSO, founder of MiR, in a statement. “With Teradyne as the owner, we will have strong backing to ensure MiR’s continued growth in the global market.”
Spencer Chin is Managing Editor at ECN, Wireless Design & Development, Product Design & Development, and Medical Design Technology.