Sarcos Technology and Robotics Corp., a Utah-based industrial robotic systems company, recently entered into an agreement to purchase Pittsburgh-based RE2, a developer of autonomous and teleoperated mobile robotic systems, for $100 million.
RE2 produces robotics for the aviation, construction, defense, energy, and medical industries. It has more than 100 employees.
“We are delighted to welcome the RE2 team to Sarcos,” Sarcos President and CEO Kiva Allgood said. “This transaction brings an innovative company with a complementary but additive suite of products into the Sarcos family, allowing us to offer a much wider range of solutions to address our customers’ needs. It will also allow us to expand our offerings to new industries such as medical and subsea, deepen our team of robotics experts, and advance the development of AI and machine learning technologies for use in unstructured environments.”
The purchase of RE2 is expected to increase the market for products and provide customers with a broader product portfolio with a wide range of uses and price points. It also will add a second location and nearly double Sarcos’ engineering team.
Jorgen Pedersen, RE2 founder, president and CEO, will become Sarcos’ chief operating officer.
The transaction is expected to close during the second quarter.