Transaction confirms Mooreland’s global leadership in robotics M&A
FOSTER CITY, CA – April 26, 2018 – Mooreland Partners the leading independent investment bank providing M&A and private capital advisory services to the global technology industry, announced today that it acted as the financial advisor to Teradyne on its acquisition of Mobile Industrial Robots (“MiR”), the Denmark-based market leader in collaborative autonomous mobile robots, for €121M ($148M) net of cash acquired plus up to €101M ($124M) if certain performance targets are met extending through 2020.
Based in Odense, Denmark, MiR is a supplier of collaborative autonomous mobile robots (AMRs) for industrial applications. The AMR market is an emerging category within the $1.1 billion logistics systems segment of the professional services robot market and is expected to grow rapidly in the years ahead.
Mooreland’s Industrial Technologies team continues to cement its position as the leading M&A advisor to the global robotics industry. “Teradyne’s acquisition of MiR follows the highly successful acquisition of another Danish leader, Universal Robots, in 2015 where Mooreland advised the target’s shareholders. This latest acquisition further solidifies Teradyne’s position as the leading supplier of collaborative robots,” said Rick Dalton, Managing Director in Mooreland Partners’ Silicon Valley office. “Mooreland provided essential cross-border M&A advice and execution support, this time on the buyside, to one of the leading global robotics players,” said Victor Garcia, Managing Director in Mooreland Partners’ London office.
Teradyne (NYSE:TER) is a leading supplier of automation equipment for test and industrial applications. Teradyne Automatic Test Equipment (ATE) is used to test semiconductors, wireless products, data storage and complex electronic systems, which serve consumer, communications, industrial and government customers. Teradyne’s Industrial Automation products include collaborative robots used by global manufacturing and light industrial customers to improve quality and increase manufacturing efficiency. www.teradyne.com
Mobile Industrial Robots (MiR) develops and markets the industry’s most advanced line of collaborative and safe autonomous mobile robots (AMRs) that quickly, easily, and cost-effectively manage internal logistics, freeing employees for higher-value activities. www.mobile-industrial-robots.com