Teradyne last month announced plans to build upon its spending spree of the past four years. On the heels of its recent acquisitions of Universal Robots, MiR, and Energid, the company will also bring AutoGuide Mobile Robots into the fold. The industrial automation giant has demonstrated a particular interest in robotic solutions for warehousing and logistics firms. Teradyne’ spending $165 million acquisition of AutoGuide Mobile Robots is the latest example of its strategic effort to lead the growing autonomous mobile robot (AMR) space.
AutoGuide AMRs
AutoGuide is a Massachusetts-based manufacturer of AMRs for high-payload material transport. Its signature AMR offerings include the Max N10 Tugger and Pallet Stacker. The Pallet Stacker distinguishes between pallets, chooses the right ones, and transports them along a fixed route to be stacked in another location. The Tugger simply hauls carts full of materials from place to place, also along customizable routes.
The company, which projects 2019 revenues of roughly $8 million, also boasts a proprietary software (called SurePath) that is designed to coordinate the movements of fleets autonomous forklifts throughout a warehouse. This system, in conjunction with its physical AMR offerings, leaves AutoGuide well-positioned to meet the growing demand for simple and effective AMRs that help reduce costs and downtime. The company already counts among its customers industrial heavyweights like Ford, Pactiv and Husqvarna.
A Strategic Fit with Teradyne
Teradyne envisions this deal as filling a gap in its existing portfolio of low-to-medium payload AMRs. High-payload solutions (up to 10,000 pounds) are in increasing demand, according to president and CEO Mark Jagiela. “Auto Guide’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.”
Jagiela went on to praise AutoGuide’s innovative marriage of robotics and software to drive time and expensive out of the warehouse material movement. He expects Teradyne’s financial heft to help its new subsidiary grow its sales and support teams while simultaneously refining the product offerings it brings to market. The deal is expected to close late this year pending standard closing conditions and the greenlight from regulators.