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Singapore-based ST Engineering acquired Pittsburgh-based Aethon, a maker of mobile robots for materials handling, for $36 million. Aethon will operate as part of ST Kinetics division.
Singapore Technologies Engineering Ltd (ST Engineering) announced that its subsidiary Vision Technologies Land Systems, Inc. has entered into a definitive agreement to acquire 100% interest in Aethon, Inc., a provider of autonomous mobile robots, for an enterprise value of US$36 million. The acquisition will be merged with VT Robotics and become part of ST Kinetics.