Midea is evolving from a home appliance manufacturing giant into one of the world’s top 500 technology companies
The 2017 Fortune Global Forum will be held in Guangzhou, China from December 6-8.
Attended by leaders and CEOs of the world’s top companies, the event is in its 22nd year and is deemed one of the most influential economic development forums in the world.
Midea, which in recent months emerged as a “dark horse” due to its impressive transformation into a global technology group, will be partnering the Fortune Global Forum for the very first time. Continue reading Midea goes from home appliance giant to Fortune 500 company
Swarm Technology says the United States Patent and Trademark Office has issued a “notice of allowance” in connection with its patent application 14/340,332 relating to “intent-based automation” within the fields of internet of things, networking and robotics.
Alfonso Iniguez, the company’s founder and CEO, says: “We are thrilled to receive this Notice of Allowance from the USPTO.
“With respect to robotics, our technology enables adaptive collective behavior. We are currently developing swarm robots for autonomous landmine detection. Continue reading Swarm Technology to be awarded second patent for IoT and robotics applications
Emerson Electric, a company with a market capitalisation of more than $40 billion, is trying to buy Rockwell Automation, which has a market cap of about $26 billion.
Emerson has reportedly offered more than $27 billion for Rockwell, but has been rejected.
Not apparently because of the money, but because Rockwell is said to be “fiercely independent” by CNBC, which says the acquisition bid was met with a “terse rejection”. Continue reading Industrial consolidation: Emerson Electric tries to buy Rockwell Automation for $27 billion
Two subsidiaries of Genuine Parts Company are making acquisitions in the industrial and automotive sectors.
GPC has a market capitalisation of approximately $13 billion, employs almost 40,000 people, and owns at least four subsidiary companies. Continue reading Genuine Parts Company subsidiaries make acquisitions in industrial and automotive sectors
iRobot, the US company which makes consumer robots such as the Roomba robotic vacuum cleaner range, has closed the previously announced acquisition of Robopolis, a French company.
The preliminary purchase price of $141 million is subject to normal purchase price adjustments and is expected to be finalized no later than the first quarter of 2018.
Europe is a key strategic region for iRobot and provides “an excellent opportunity for further growth”, says the company. Continue reading iRobot buys Robopolis to expand in Europe
Atos, a technology company which has a huge interests in digitalisation of industry, says it plans to acquire Siemens Convergence Creators, a global multi-industry digital transformation solutions provider.
Atos says CVC’s highly skilled engineers and a total headcount of approximately 800 staff deliver software based solutions in the fields of communication networks, service and customer management, public safety and security, multimedia infotainment, as well as space technology.
CVC was initially an internal innovative research and development and solutions partner for multiple Siemens business units. Continue reading Atos to acquire Siemens Convergence Creators
Industrial design software giant Dassault Systèmes has agreed to acquire Exa Corporation, a provider of simulation software for product engineering.
Exa is based in Burlington, Massachusetts-based, and Dassault Systèmes is headquartered in France, and is now believed to be the one of the largest software companies in Europe by revenue.
Under the terms of the merger agreement, a subsidiary of Dassault Systèmes will commence a tender offer within the next 10 business days to acquire all of the issued and outstanding shares of Exa common stock for a price of $24.25 per share payable in cash upon completion of the offer. Continue reading Dassault Systèmes to acquire simulation software company Exa
ABB has finalised a deal to buy General Electric’s industrial solutions business unit for $2.6 billion.
The deal would result in ABB taking over the part of GE’s business which supplies circuit breakers and other electrical equipment to industry.
GE Industrial Solutions is said to have deep customer relationships in more than 100 countries and an established installed base with strong roots in North America, ABB’s biggest market. Continue reading ABB agrees to buy General Electric’s industrial business unit for $2.6 billion
By investment analysts at Market News Updates
The robotics sector has experienced record growth in the US, partly as a result of the government’s a policy of discouraging manufacturers from leaving the country.
As a result, American businesses have turned towards robotics and automation technologies to cope with rising labor costs.
Because of this, investors positioned in companies pursuing robotics, retail automation and artificial intelligence technologies are rewarded with new 52-week highs. Continue reading Markets update: Investments in robotics and related technologies
Neato Robotics, which mainly makes robotic vacuum cleaners for the home, has been acquired by Vorwerk. Terms of the transaction were not disclosed.
Vorwerk first invested in Neato Robotics in 2010. With this acquisition, the German family-owned enterprise says it is enhancing its strategic position on the emerging global market for home robot vacuums.
Neato will operate within the Vorwerk Group as a wholly owned independent business unit, with its own brand identity and corporate culture. There will be no changes to leadership or daily operations. Continue reading Household appliances maker Vorwerk acquires Neato Robotics
Optoelectronics group Jenoptik has acquired 100 percent of the Michigan company Five Lakes Automation.
FLA is a full-service provider of complex automated manufacturing solutions.
The company plans and designs automated production lines and integrates them in the customer’s environment including all production systems. Continue reading Jenoptik acquires Five Lakes Automation
Industrial giant ABB is reporting a 3 per cent growth in total orders across its operation, but most of it seems to be coming from robotics.
Net income was $525 million – for the second quarter ending July 6. Gross profit, however, was down 5 per cent, and was only $1 billion. Total revenues were up 1 per cent at almost $8.5 billion.
ABB CEO Ulrich Spiesshofer says: “In Q2, ABB continued to build its growth momentum as our targeted initiatives are delivering. Order growth was broad-based and across all regions.
“Our industry-leading digital offering, ABB Ability, is taking off and starting to contribute to growth.
“Operational performance in the power grids and industrial automation divisions was solid in the quarter. Electrification products and robotics and motion improved margins sequentially, but were not able to fully compensate commodity price headwinds and overcapacity during the quarter. Continue reading Robotics and automation news is good for ABB, says CEO
Business-to-business publisher WTWH Media has bought The Robot Report for an undisclosed sum.
TheRobotReport.com was founded in 2008 by Frank Tobe, and is one of the leading websites in this growing sector of publishing.
The website covers robotics in a variety of business segments, including transportation, agriculture, manufacturing and even outer space. It has an international perspective, covering many countries around the globe. Continue reading WTWH Media buys The Robot Report
Comau has agreed a new partnership with MVB Automation in Brazil. Founded over 10 years ago, the company is a system integrator based in Camaçari, Bahia, with about 90 experts in the field of factory automation.
MVB serves a variety of customers in general industry with robotics solutions, automation controls, process simulation and tooling.
Comau says this partnership represents its strategy to develop its growing partner network in Latin America. Continue reading Comau agrees deal with Brazilian integrator MVB Automation
Industrial energy and automation giant wins three key digital orders from major Canadian customers
ABB has officially inaugurated its new $90 million Canadian headquarters and Customer Innovation Center, which will serve 700 employees who were previously spread across six locations in Greater Montreal.
Campus Montreal houses research and development, manufacturing, assembly and testing for ABB’s energy value chain, says the company. Continue reading ABB opens new Canada headquarters in Montreal