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Sarcos Technology And Robotics Corporation To Acquire Re2, An Award-Winning Developer Of Intelligent Mobile Manipulation Systems

Sarcos Technology And Robotics Corporation To Acquire Re2, An Award-Winning Developer Of Intelligent Mobile Manipulation Systems

03/28/22, 11:00 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgsalt lake city
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgsalt lake city
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgsalt lake city
Industry
automation machinery manufacturing
automation machinery manufacturing
automation machinery manufacturing
Sarcos Technology and Robotics Corporation (“Sarcos”) (NASDAQ: STRC and STRCW) today announced that the Company has reached a definitive merger agreement to acquire Pittsburgh-based RE2, Inc., a developer of autonomous and teleoperated mobile robotic systems for use in the aviation, construction, defense, energy and medical industries. This transaction brings together two leading commercial robotics teams focused on industrial robotic technologies that improve worker safety and productivity. Consideration for the transaction is $100 million, consisting of $30 million in cash, which Sarcos expects to fund with cash on hand, and $70 million of Sarcos common stock.

Company Info

Company
Sarcos Technology & Robotics Corp
Location
650 south 500 west
Salt Lake City, Utah, United States
Company info
Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) is a leader in industrial robotic systems that augment human performance by combining human intelligence, instinct, and judgment with the strength, endurance, and precision of machines to enhance employee safety and productivity. Leveraging more than 30 years of research and development, Sarcos’ mobile robotic systems, including the Guardian® S, Guardian® GT, Guardian® XO®, and Guardian® XT™, are designed to revolutionize the future of work wherever physically demanding work is done. Sarcos is based in Salt Lake City, Utah.
Company
Sarcos Technology & Robotics Corp
Location
650 south 500 west
Salt Lake City, Utah, United States
Company info
Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) is a leader in industrial robotic systems that augment human performance by combining human intelligence, instinct, and judgment with the strength, endurance, and precision of machines to enhance employee safety and productivity. Leveraging more than 30 years of research and development, Sarcos’ mobile robotic systems, including the Guardian® S, Guardian® GT, Guardian® XO®, and Guardian® XT™, are designed to revolutionize the future of work wherever physically demanding work is done. Sarcos is based in Salt Lake City, Utah.

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