Rockwell Automation is acquiring Clearpath Robotics, an Ontario, Canada-based developer of autonomous mobile robots (AMRs) for research and development purposes. OTTO Motors, a division of Clearpath, develops AMRs for manufacturing and logistics applications and is also part of the acquisition. Financial details of the pending acquisition were not disclosed. However, the acquisition will be funded by a portion of the proceeds from the sale of Rockwell’s investment in PTC. It is subject to customary regulatory approval and is expected to close in the first quarter of Rockwell’s fiscal year 2024. At close, Clearpath will report to Rockwell’s Intelligent Devices operating segment. In a release announcing the deal, Rockwell Automation said AMRs “are the next frontier in industrial automation and transformation, and this acquisition will supercharge Rockwell’s lead in bringing the connected enterprise to life.” According to Interact Analysis, the market for AMRs in manufacturing is expected to grow about 30% per year over the next five years, with an estimated market size of $6.2 billion by 2027. This acquisition is expected to contribute a percentage point to Rockwell’s fiscal 2024 revenue growth. “Rockwell and Clearpath together will simplify the difficult and labor-intensive task of moving materials and product through an orchestrated and safe system to optimize operations throughout the entire manufacturing facility,” said Blake Moret, Chairman and CEO, Rockwell Automation.
Full story : Rockwell Automation acquiring AMR developer Clearpath Robotics.
