Teradyne, Inc. and the shareholders of Universal Robots have announced they have signed a definitive agreement under which Teradyne will acquire privately held Universal Robots, the Danish pioneer of collaborative robots, for $285 million net of cash acquired plus $65 million if certain performance targets are met extending through 2018. The acquisition has been approved by the Board of Directors of each company and is expected to close in the second quarter of 2015 subject to customary closing conditions and regulatory approval. 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. Collaborative robotics is a $100 million segment of the industrial robotics market growing at more than 50% per year.
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