Teradyne closes USD 285m purchase of Denmark's Universal Robots

June 11 (SeeNews) – US automatic test equipment supplier Teradyne Inc (NYSE:TER) announced on Thursday the closure of its USD 285 million (EUR 254m) cash acquisition of Danish industrial robotic arms manufacturer Universal Robots A/S.

Unveiling the purchase agreement last month, Teradyne said it would pay a further USD 65 million if Universal Robots hits certain performance targets through to 2018.

As a result of this acquisition, Teradyne will enhance its system and wireless test business while securing a new, powerful growth platform, president and chief executive Mark Jagiela stated.

Universal Robots posted revenues of over USD 38 million in 2014, or 70% higher than in 2013, and its profit increased more than twofold. The company has built a leading position in one of the fastest growing segments of the industrial robotics market: collaborative robotics is expected to deliver annual growth of more than 50%, Teradyne has previously said.

(USD 1=EUR 0.892)

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