Teradyne announces acquisition of Mobile Industrial Robots (MiR)

  • April 26, 2018
  • News
Teradyne announces acquisition of Mobile Industrial Robots (MiR)
Teradyne announces acquisition of Mobile Industrial Robots (MiR)

April 26, 2018 — Teradyne and the shareholders of Mobile Industrial Robots (MiR) announced the acquisition of privately held MiR of Odense, Denmark for €121 million ($148 million) net of cash acquired plus €101 million ($124 million at current exchange rate) if certain performance targets are met extending through 2020. 

MiR is a 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.

MiR was profitable in 2017 with annual revenue of $12 million USD, more than triple 2016 revenues and had Q1’18 sales of $5 million.

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