SINGAPORE (July 17): ST Engineering has, through its wholly owned subsidiary Vision Technologies Systems (VT Systems), has agreed to acquire a 100% stake in US robotics company, Aethon Inc. 

The consideration sum will be based on an enterprise value of about US$36 million ($50 million), subject to post-closing adjustments, which will be payable by VTLS.

Aethon, which is based in Pittsburgh, PA, is perhaps best-known for its TUG smart autonomous mobile robot, which helps to automate intra-logistics in industrial, healthcare, hospitality and other commercial environments to deliver goods, materials, meals, medication and other supplies up to a load of 635 kg per robot.

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