Robohub.org
 

ST Engineering acquires mobile robot maker Aethon for $36 million

by
25 July 2017



share this:

Singapore Technologies Engineering Ltd (ST Engineering) has acquired Pittsburgh, PA-based robotics firm Aethon Inc through Vision Technologies Land Systems, Inc. (VTLS), and its wholly-owned subsidiary, VT Robotics, Inc, for $36 million.

The acquisition will be carried out by way of a merger with VT Robotics, a special newly incorporated entity established for the transaction. The merger will see Aethon as the surviving entity that will operate as a subsidiary of VTLS, and will be part of the the ST Group’s Land Systems sector. Aethon’s leadership team and employees will remain in place and the company will continue to operate out of its Pittsburgh, PA location.

ST Engineering, S63 on the Singapore Stock Exchange, is a Singapore-based integrated defense and engineering group focused in aerospace, electronics, and land, sea and air unmanned systems for the battlefield. It employs over 21,000 people and has annual revenues of around $5 billion.

“We evaluated the autonomous mobile robotics market thoroughly. Our evaluation led us to conclude that Aethon was the best company in this space having the right technology along with proven success in the commercialization and installation of autonomous mobile robots. We look forward to working with the Pittsburgh, PA team to grow the company,” says Khee Loon Foo, General Manager, Kinetics Advanced Robotics of ST Kinetics.

Aethon provides intralogistics in manufacturing and hospital environments by delivering goods and supplies using its TUG autonomous mobile robots. TUGs are self-driving autonomous robots capable of hauling or towing up to 1,400 lbs as it dynamically and safely navigates around people and the corridors of client facilities.

“This acquisition is a terrific event for our company, employees and our customers since it provides Aethon with the resources and corporate backing to grow and develop new innovative robotic technology and more aggressively pursue new markets. We will now be able to expand our development capabilities to enhance our current technology and bring exciting logistics solutions to new vertical and global markets,” says Aldo Zini, CEO of Aethon.




Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.
Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.





Related posts :



Robotics Today latest talks – Raia Hadsell (DeepMind), Koushil Sreenath (UC Berkeley) and Antonio Bicchi (Istituto Italiano di Tecnologia)

Robotics Today held three more online talks since we published the one from Amanda Prorok (Learning to Communicate in Multi-Agent Systems). In this post we bring you the last talks that Robotics Today (currently on hiatus) uploaded to their YouTube channel: Raia Hadsell from DeepMind talking about ‘Scalable Robot Learning in Rich Environments’, Koushil Sreenath from UC Berkeley talking about ‘Safety-Critical Control for Dynamic Robots’, and Antonio Bicchi from the Istituto Italiano di Tecnologia talking about ‘Planning and Learning Interaction with Variable Impedance’.
21 October 2021, by and

Sense Think Act Pocast: Erik Schluntz

In this episode, Audrow Nash interviews Erik Schluntz, co-founder and CTO of Cobalt Robotics, which makes a security guard robot. Erik speaks about how their robot handles elevators, how they have hum...
19 October 2021, by and

A robot that finds lost items

Researchers at MIT have created RFusion, a robotic arm with a camera and radio frequency (RF) antenna attached to its gripper, that fuses signals from the antenna with visual input from the camera to locate and retrieve an item, even if the item is buried under a pile and completely out of view.
18 October 2021, by

Robohub gets a fresh look

If you visited Robohub this week, you may have spotted a big change: how this blog looks now! On Tuesday (coinciding with Ada Lovelace Day and our ‘50 women in robotics that you need to know about‘ by chance), Robohub got a massive modernisation on its look by our technical director Ioannis K. Erripis and his team.
17 October 2021, by
ep.

339

podcast

High Capacity Ride Sharing, with Alex Wallar

In this episode, our interviewer Lilly speaks to Alex Wallar, co-founder and CTO of The Routing Company. Wallar shares his background in multi-robot path-planning and optimization, and his research on scheduling and routing algorithms for high-capacity ride-sharing. They discuss how The Routing Company helps cities meet the needs of their people, the technical ins and outs of their dispatcher and assignment system, and the importance of public transit to cities and their economics.
12 October 2021, by

50 women in robotics you need to know about 2021

It’s Ada Lovelace Day and once again we’re delighted to introduce you to “50 women in robotics you need to know about”! From the Afghanistan Girls Robotics Team to K.G.Engelhardt who in 1989 ...
12 October 2021, by and





©2021 - ROBOTS Association


 












©2021 - ROBOTS Association