Sarcos Technology and Robotics Corporation reached a merger agreement to acquire Pittsburgh-based RE2, Inc., a developer of autonomous and teleoperated mobile robotic systems for use in the aviation, construction, defense, energy and medical industries. The deal brings together two 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.
The acquisition will ebable the combined company to target a much broader spectrum of customer needs across the commercial and defense sectors. The initial product line will include the Guardian XO full-body, battery-powered industrial exoskeleton, the Guardian XT teleoperated dexterous mobile robotic avatar system, and the Sapien line of arms which features several models with capabilities ranging from precision arms for surgical applications, rugged outdoor arms for construction tasks, and the Sapien Sea Class system that can operate in shallow and deep water to perform inspection and maintenance tasks across multiple industries.
RE2 has significant program wins in surgical robotics, aviation maintenance, and construction automation. It has also sold more than 650 robotic arm products capable of operating in unstructured environments into the market since 2010. RE2’s proven track record serving government and commercial customers makes it an ideal addition to the Sarcos team.