NORTH READING, Mass.--(BUSINESS WIRE)--Teradyne, Inc. (NYSE:TER) announced today that it has completed the acquisition of Universal Robots, the leading supplier of collaborative robots; low-cost, easy-to-deploy and simple-to -program robots that work side by side with production workers to improve quality and increase manufacturing efficiency. Collaborative robotics is a $100 million segment of the industrial robotics market growing at more than 50% per year.
“Universal Robots provides a powerful, additional growth platform to Teradyne,” said Mark Jagiela, President and CEO of Teradyne. “We are happy to welcome the Universal team to Teradyne and look forward to helping accelerate Universal Robots’ growth in the fast moving collaborative robot market.”
Teradyne (NYSE:TER) is a leading supplier of automation solutions for test and industrial applications. Teradyne 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. Our Industrial Automation solutions include Collaborative Robots used by global manufacturing and light industrial customers to improve quality and increase manufacturing efficiency. In 2014, Teradyne had revenue of $1.65 billion and currently employs approximately 4,000 people worldwide. For more information, visit www.teradyne.com. Teradyne(R) 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, Universal Robots’ 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 Universal Robots operates; market acceptance of Universal Robots’ new products; competition from larger and more established companies in Universal Robots’ markets; the protection of Universal Robots’ intellectual property; the retention of key employees; Teradyne’s ability to successfully grow Universal Robots’ 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, 2014 and Quarterly Report on Form 10-Q for the period ended April 5, 2015. 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.