PITTSBURGH–(BUSINESS WIRE)–On July 17, 2017 Aethon entered into an agreement to be acquired by ST Engineering, a S$6.68B engineering firm, with global operations and strong expertise in mobile robotics. Aethon will become a division of ST Engineering’s US headquarters, VT Systems and will be part of the group’s Land Systems sector which is led by ST Kinetics, who is focused on robot technology innovation.
“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.
ST Engineering purchased Aethon as a key piece of their growing robotics business. Aethon’s leadership team and employees will remain in place and the company will continue to operate out of its Pittsburgh, PA location.
“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 automates Intralogistics in manufacturing environments, hospitals and other commercial settings by delivering goods and supplies using itsTUG® smart autonomous mobile robot. TUG facilitates industry 4.0 initiatives by connecting islands of automation within the manufacturing process including the movement and delivery of raw materials, work-in-process, finished goods, scrap and tools. It improves patient care and efficiency in hospitals by automating the non-value added tasks related to material movement and delivery. The TUG a self-driving autonomous robot capable of hauling up to 1,400 lbs as it dynamically navigates and safely works around people.
About ST Kinetics
ST Kinetics is the land systems arm of ST Engineering, an integrated engineering group. With 50 years of engineering expertise behind us, we are driven by a passion for innovation and work with partners and customers to deliver customized land systems and security solutions that meet the stringent operational requirements of defense, homeland security and commercial customers. Headquartered in Singapore, ST Kinetics employs a skilled workforce of some 5,000 people, 70% of whom are in engineering and technical roles, to support customers in over 40 countries. We are the world leader in niche products such as 40mm munitions. In FY2016, ST Kinetics recorded revenue of S$1.3b. Please visit www.stengg.com for more information.
Tony Melanson, 412-322-2975