Business & Tech
North Reading-Based Teradyne Completes Acquisition of Robotics Company
The acquisition was completed last week, according to the company.
The North Reading-based company Teradyne announced it recently completed the acquisition of robotics company, Universal Robots.
Teradyne, a publicly traded developer and supplier of automatic test equipment, announced on Thursday, June 11, it completed the acquisition of the company. According to a release from Teradyne, Universal Robots is “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.”
The collaborative robotics segment of the industrial robotic market is a $100 million segment, which is increasing at more than 50 percent per year, Teradyne said.
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“Universal Robots provides a powerful, additional growth platform to Teradyne,” Mark Jagiela, President and CEO of Teradyne, said in the release. “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.”
No financial details regarding the acquisition were disclosed.
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In 2014, Teradyne had a revenue of $1.65 billion and currently employs approximately 4,000 people worldwide.
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