ST Engineering Acquires Aethon’s Autonomous Mobile Robot Technology
PITTSBURGH – 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.Read More