Sarcos Technology and Robotics Corporation has reached a definitive merger agreement to acquire Pittsburgh-based RE2, 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. [Read more…] about Sarcos Technology and Robotics Corporation to acquire RE2