Last month, Singapore Technologies Engineering Ltd., or ST Engineering, announced its intention to acquire Aethon Inc. and add Aethon’s mobile logistics robots to its ST Kinetics division.
Prior to this announcement, Aethon sold its MedEx pharmacy product to software vendor Inmar Inc. in Winston-Salem, N.C.
The materials handling and logistics robotics market will grow to $75 billion by 2027, predicts IDTechEx.
About the $36 million acquisition, Aethon President and CEO Aldo Zini said, “We’re now part of a multi-billion-dollar company. The resources and capital to really grow and accelerate are fantastic now, and we’re going to take advantage of it.”
The merger provides several synergies for the two companies:
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