NORTH READING, Mass., Nov. 14, 2019 (GLOBE NEWSWIRE) -- 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 Robots
AutoGuide 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 Teradyne
Teradyne (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