Mentioned:
GE Vernova wants in on the robotics revolution. Which is exactly why they’re buying a startup in Canada.
What’s happening:
- GE Vernova (NYSE: GEV) has entered into an agreement to acquire Canadian robotics company Robotech Automation
Why it matters:
- This is the first time ever that GE Vernova has purchased a private robotics company
Going deeper:
- Robotech Automation has developed robots that are purpose built for automating specific manufacturing processes through custom robotic cells and dedicated machines
- GE Vernova and Robotech Automation are currently working together on projects at GE Vernova’s factories in Schenectady, New York and Charleroi, Pennsylvania to automate specific aspects of their manufacturing operations
The fine print:
- The purchase price of Robotech Automation has not yet been publicly disclosed by GE Vernova
