NEW YORK and LONDON, May 13, 2015 /PRNewswire/ -- Mooreland Partners (http://www.moorelandpartners.com) the leading independent investment bank providing M&A and private capital advisory services to the global technology industry, today announced that it acted as the exclusive financial advisor to Universal Robots on its sale to Teradyne for $285 million net of cash acquired, plus a further $65 million if certain performance targets are met extending through 2018. The acquisition has been approved by the Board of Directors of each company, and is expected to close in the second quarter of 2015 subject to customary closing conditions and regulatory approval.
Based in Odense, Denmark, Universal Robots is the leading supplier of collaborative robots, which are low cost, easy to deploy, and simple to program robots that work side-by-side with production workers to improve quality and increase manufacturing efficiency. Its product portfolio includes the collaborative UR3, UR5 and UR10 robot arms named after their payloads in kilos. Collaborative robotics is currently a $100 million segment of the industrial robotics market, growing at more than 50% per year. Universal Robots achieved record growth in 2014. Company revenue increased 70% from 2013 reaching more than $38 million, with profits more than doubling from the prior period.
The sale of Universal Robots further solidifies Mooreland Partners' position among the most active advisors to the industrial technology and electronics sector. "We are pleased to have played a role in this ground breaking transaction in the industrial technology space. The acquisition of Universal Robots is an important milestone in the ongoing renaissance of industrial automation technologies," said Victor Garcia, Managing Director, Mooreland Partners.
Teradyne (NYSE: TER) is a leading supplier of Automatic Test Equipment used to test semiconductors, wireless products, data storage, and complex electronic systems which serve consumer, communications, industrial and government customers. In 2014, Teradyne had revenue of $1.65 billion and currently employs approximately 3,800 people worldwide. For more information, visit www.teradyne.com. Teradyne(R) is a registered trademark of Teradyne, Inc. in the U.S. and other countries.
ABOUT MOORELAND PARTNERS
Founded in 2002, Mooreland Partners is a leading independent investment bank providing M&A and private capital advisory services to the global technology industry, serving clients from its offices in Silicon Valley, Greenwich (CT), and London. Mooreland's team of nearly 50 banking professionals delivers industry domain and transaction expertise across all major technology sectors including industrial technology and electronics, enterprise software and services, communications technology, as well as mobile and digital media. Read our blog, follow us on Twitter @MoorelandGlobal or learn more at www.moorelandpartners.com.
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SOURCE Mooreland Partners
