Add-on Acquisition • Machinery

Symbotic Acquires Veo Robotics

On July 19, 2024, Symbotic acquired machinery company Veo Robotics for 9M USD

Acquisition Context

This is Symbotic’s 1st transaction in the Machinery sector.
This is Symbotic’s largest (disclosed) transaction.
This is Symbotic’s 1st transaction in the United States.
This is Symbotic’s 1st transaction in Massachusetts.

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M&A Deal Summary
Date	July 19, 2024
Target	Veo Robotics
Sector	Machinery
Buyer(s)	Symbotic
Deal Type	Add-on Acquisition
Deal Value	9M USD

Target Company

Veo Robotics

Waltham, Massachusetts, United States

Veo Robotics manufactures dynamic, flexible human-machine collaboration, a comprehensive 3D safeguarding solution that reduces the cost and complexity of human-robot collaboration. Veo Robotics was founded in 2016 and is based in Waltham, Massachusetts.

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Buyer Overview 1

Buyer

Symbotic

Wilmington, Massachusetts, United States

Category	Company
Sector	Machinery
Employees	1,650
Revenue	1.8B USD (2024)

DESCRIPTION

Symbotic is an automation technology company reimagining the supply chain with its end-to-end, A.I.-powered robotic and software platform. Symbotic reinvents the warehouse as a strategic asset for the world’s largest retail, wholesale, and food & beverage companies. Symbotic is based in Wilmington, Massachusetts.

Deal Context for Buyer	#
Overall	1 of 3
Sector: Machinery	1 of 2
Type: Add-on Acquisition	1 of 2
State: Massachusetts	1 of 1
Country: United States	1 of 3
Year: 2024	1 of 2
Size (of disclosed)	1 of 1

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2024-12-12	OhmniLabs Milpitas, California, United States OhmniLabs is a robotics company focused on providing demand-driven robotics solutions for businesses. OhmniLabs utilizes an ultra-lean development and manufacturing process, allowing for innovation at unmatched speeds, costs, and margins compared to other robotics companies. OhmniLabs was founded in 2015 and is based in Milpitas, California.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2024-12-12

OhmniLabs

Milpitas, California, United States

OhmniLabs is a robotics company focused on providing demand-driven robotics solutions for businesses. OhmniLabs utilizes an ultra-lean development and manufacturing process, allowing for innovation at unmatched speeds, costs, and margins compared to other robotics companies. OhmniLabs was founded in 2015 and is based in Milpitas, California.

Buy

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