Blog Exposure - Teradyne Acquires Denmark-Based Mobile Industrial Robots
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LONDON, UK / ACCESSWIRE / April 27, 2018 / Active-Investors.com has just released a free research report on Teradyne, Inc. (NYSE: TER). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TER as the Company's latest news hit the wire. On April 25, 2018, the Company announced that it has acquired privately-held Mobile Industrial Robots ("MiR") of Odense, Denmark, for approximately €121 million ($148 million) net of cash, plus €101 million ($124 million at current exchange rate), if certain performance targets are met extending through 2020. The transaction is expected to be immediately accretive to earnings. Register today and get access to over 1000 Free Research Reports by joining our site below:
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MiR Collaborative AMRs Lower the Barrier for Enterprises to Incrementally Automate their Operations
Mark Jagiela, President and Chief Executive Officer (CEO) of Teradyne, stated that MiR is the market leader in the nascent, but fast growing market for collaborative autonomous mobile robots (AMRs). Like Universal Robots' collaborative robots, MiR's collaborative AMRs lower the barrier for both large and small enterprises to incrementally automate their operations without the need for specialty staff or a re-layout of their existing workflow. This, combined with a fast return on investment, opens a vast new automation market. Jagiela stated that following the path proven with Universal Robots, the Company expects to leverage its global capabilities to expand MiR's reach.
Teradyne will Provide Financial Strength and Global Reach to Drive MiR's Growth
Commenting on the acquisition, Thomas Visti, CEO of MiR, stated that the Company joining Teradyne allows it to advance its engineering and development investments to provide greater value to customers and further expand its market leadership in industrial autonomous mobile robots. Visti added that Teradyne's worldwide reach, world-class engineering and support capabilities, financial strength, and proven model for leveraging those strengths will help MiR grow in new and existing markets worldwide.
Teradyne's Acquisition of Denmark-based Universal Robots
In June 2015, the Company completed the acquisition of Universal Robots, the Danish pioneer of collaborative robots, for $285 million, net of cash, plus $65 million if certain performance targets were met extending through 2018. Collaborative robotics, low-cost, easy-to-deploy, and simple-to-program robots that worked side by side with production workers to improve quality and increase manufacturing efficiency, was a $100 million segment of the industrial robotics market growing at more than 50% per year. This acquisition complemented Teradyne's System and Wireless Test businesses, while adding a powerful, additional growth platform to the Company.
About Mobile Industrial Robots (MiR)
Based in Odense, Denmark, MiR is a leading manufacturer of collaborative mobile robots. The Company develops and markets the industry's most advanced line of collaborative and safe AMR that quickly, easily, and cost-effectively manage internal logistics, freeing employees for higher-value activities. MiR was profitable in 2017 with annual revenues of $12 million, more than triple the revenues of 2016; and had sales of $5 million for Q1 2018.
About Teradyne, Inc.
Founded in 1960 and headquartered in North Reading, Massachusetts, Teradyne is a leading supplier of automation equipment for test and industrial applications. Teradyne's Automated Test Equipment (ATE) is used to test semiconductors, wireless products, data storage, and complex electronic systems, which serve consumer, communications, industrial, and government customers.
Stock Performance Snapshot
April 26, 2018 - At Thursday's closing bell, Teradyne's stock fell 1.87%, ending the trading session at $34.05.
Volume traded for the day: 7.42 million shares, which was above the 3-month average volume of 2.93 million shares.
Stock performance in the past twelve-month period – up 0.83%
After yesterday's close, Teradyne's market cap was at $7.03 billion.
Price to Earnings (P/E) ratio was at 15.44.
The stock has a dividend yield of 1.06%.
The stock is part of the Technology sector, categorized under the Semiconductor Equipment & Materials industry. This sector was up 1.6% at the end of the session.
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