ST Engineering Acquires Aethon and Its Market-Leading Autonomous Mobile Robot Technology.

PITTSBURGH–(BUSINESS WIRE)–On July 17, 2017 Aethon entered into an agreement to be acquired by ST
Engineering, a S$6.68B engineering firm, with global operations and
strong expertise in mobile robotics. Aethon will become a division of ST
Engineering’s US headquarters, VT Systems and will be part of the
group’s Land Systems sector which is led by ST Kinetics, who is focused
on robot technology innovation.

“This acquisition is a terrific event for our company, employees and our
customers since it provides Aethon with the resources and corporate
backing to grow and develop new innovative robotic technology and more
aggressively pursue new markets. We will now be able to expand our
development capabilities to enhance our current technology and bring
exciting logistics solutions to new vertical and global markets,” says
Aldo Zini, CEO of Aethon.

ST Engineering purchased Aethon as a key piece of their growing robotics
business. Aethon’s leadership team and employees will remain in place
and the company will continue to operate out of its Pittsburgh, PA
location.

“We evaluated the autonomous mobile robotics market thoroughly. Our
evaluation led us to conclude that Aethon was the best company in this
space having the right technology along with proven success in the
commercialization and installation of autonomous mobile robots. We look
forward to working with the Pittsburgh, PA team to grow the company,”
says Khee Loon Foo, General Manager, Kinetics Advanced Robotics of ST
Kinetics.

About Aethon

Aethon automates Intralogistics in manufacturing environments, hospitals
and other commercial settings by delivering goods and supplies using itsTUG®
smart autonomous mobile robot
. TUG facilitates industry 4.0
initiatives by connecting islands of automation within the manufacturing
process including the movement and delivery of raw materials,
work-in-process, finished goods, scrap and tools. It improves patient
care and efficiency in hospitals by automating the non-value added tasks
related to material movement and delivery. The TUG a self-driving
autonomous robot capable of hauling up to 1,400 lbs as it dynamically
navigates and safely works around people.

About ST Kinetics

ST Kinetics is the land systems arm of ST Engineering, an integrated
engineering group. With 50 years of engineering expertise behind us, we
are driven by a passion for innovation and work with partners and
customers to deliver customized land systems and security solutions that
meet the stringent operational requirements of defense, homeland
security and commercial customers. Headquartered in Singapore, ST
Kinetics employs a skilled workforce of some 5,000 people, 70% of whom
are in engineering and technical roles, to support customers in over 40
countries. We are the world leader in niche products such as 40mm
munitions. In FY2016, ST Kinetics recorded revenue of S$1.3b. Please
visit www.stengg.com
for more information

Contacts

Aethon
Tony Melanson, 412-322-2975
VP Marketing
[email protected]