Teradyne Completes Acquisition of AutoGuide Mobile Robots
November 14 2019 - 9:00AM
Teradyne, Inc. (NASDAQ:TER) announced today that it has completed
the acquisition of AutoGuide Mobile Robots, a leading supplier of
high payload autonomous mobile robots (AMRs). AutoGuide’s advanced
products deliver easy deployment, improved safety, reduced costs
and increased efficiency of industrial and warehouse
material-handling operations.
“AutoGuide’s safe, high-payload AMRs for the
global forklift market provide a powerful, additional growth engine
to Teradyne’s Industrial Automation group,” said Mark Jagiela,
President and CEO of Teradyne. “We are happy to welcome AutoGuide
to Teradyne and look forward to helping expand their product lineup
and accelerate their global growth plans.”
Rob Sullivan, President and CEO of AutoGuide,
said, “Joining Teradyne gives us the resources and support to both
strengthen our capabilities in North America and expand our reach
globally to assist customers who need safe, productive and
high-payload material-handling products. Since announcing the
acquisition in October, we’ve heard from many potential customers
who recognize the flexibility, ease of deployment and superior ROI
of our AMRs compared with other options and are eager to engage
with AutoGuide to learn more.”
About AutoGuide Mobile
RobotsAutoGuide Mobile Robots designs, develops and
manufactures high-payload industrial autonomous mobile robots for
assembly, manufacturing, warehousing and distribution operations
across multiple industries. AutoGuide’s Max N10 modular mobile
robot platform is the industry’s most reliable and affordable
natural feature guidance platform with a growing number of
application-specific configurations available, including tugger,
conveyor deck, car mover and pallet stacker. AutoGuide has a mobile
robot R&D center located in Chelmsford, MA and a manufacturing
facility in Georgetown, KY. For more information, please visit
AGMobileRobots.com
About
TeradyneTeradyne (NASDAQ:TER) brings high-quality
innovations such as smart devices, life-saving medical equipment
and data storage systems to market, faster. Its advanced test
solutions for semiconductors, electronic systems, wireless devices
and more ensure that products perform as they were designed. Its
Industrial Automation offerings include Universal Robots
collaborative robots and MiR and AutoGuide mobile robots that help
manufacturers of all sizes improve productivity and lower costs. In
2018, Teradyne had revenue of $2.1 billion and
today employs 5,300 people worldwide. For more information,
visit teradyne.com. Teradyne® is a registered
trademark of Teradyne, Inc. in the U.S. and other
countries.
Safe Harbor Statement This
release contains forward-looking statements regarding the
transaction, Teradyne’s future financial results, and AutoGuide’s
future business prospects and market conditions. Such statements
are based on the current assumptions and expectations of Teradyne’s
management and are neither promises nor guarantees of future
performance. There can be no assurance that these forward looking
statements will be achieved. Important factors that could cause
actual results to differ materially from those presently expected
include: conditions affecting the markets in which AutoGuide
operates; market acceptance of AutoGuide’s new products;
competition from both larger, more established and emerging
companies in AutoGuide’s markets; the protection of AutoGuide’s
intellectual property; potential infringement of third-party
intellectual property rights; the recruitment and retention of key
employees; product warranty claims; compliance with product safety
regulations and standards; Teradyne’s ability to successfully grow
AutoGuide’s business; and other events, factors and risks disclosed
in filings with the SEC, including, but not limited to, the “Risk
Factors” section of Teradyne’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2018 and the Quarterly Report on
Form 10-Q for the period ended September 29, 2019. The
forward-looking statements provided by Teradyne in this press
release represent management’s views as of the date of this
release. Teradyne anticipates that subsequent events and
developments may cause management's views to change. However, while
Teradyne may elect to update these forward-looking statements at
some point in the future, Teradyne specifically disclaims any
obligation to do so. These forward-looking statements should not be
relied upon as representing Teradyne's views as of any date
subsequent to the date of this release.
For more information, contact:
Andrew Blanchard Investor Relations, Teradyne 978.370.2425
investorrelations@teradyne.com
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