Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, announced it completed its acquisition of Ontario, Canada-based Clearpath Robotics Inc., a leader in autonomous robotics, including autonomous mobile robots (AMRs) for industrial applications.
The acquisition includes Clearpath Robotics’ namesake research division, a leader in developing autonomous technology for the innovation market, and the industrial division OTTO Motors, which provides AMRs, the next frontier in industrial automation and transformation. Both divisions report to Rockwell’s Intelligent Devices operating segment.
“We are delighted to welcome the Clearpath Robotics and OTTO Motors teams to Rockwell,” said Blake Moret, Chairman and CEO, Rockwell Automation. “This acquisition marks a turning point for our customers around the world. Rockwell is simplifying and transforming the difficult yet critical function of material handling throughout the manufacturing plant with an end-to-end production logistics solution. Production logistics is key to optimizing operations across an entire facility and bringing the Connected Enterprise to life.”
OTTO Motors will be featured at Rockwell’s Automation Fair, the world’s premier industrial automation and digital transformation event, Nov. 6-9 in Boston, where customers will see first-hand the significant impact that AMRs will have on productivity and safety across operations.
According to Interact Analysis, the market for AMRs in manufacturing is expected to grow about 30% per year over the next five years, with an estimated market size of $6.2 billion by 2027. This acquisition is expected to contribute a percentage point to Rockwell’s fiscal year 2024 revenue growth.
“Not only do AMRs connect islands of automation; they are often one of the final major elements that help manufacturers achieve autonomous production logistics, enabling significant value creation for the manufacturer and their customers,” said Amar Mehta, EY Americas Strategy and Transactions Advanced Manufacturing Leader. “Rockwell is a leader in the key hardware, software, and services that are needed to integrate AMRs into a manufacturing plant. With this acquisition, Rockwell enhances its ability to take manufacturers on a full end-to-end digital transformation for their production environments.”