ROCKWELL AUTOMATION, INC acquired Clearpath Robotics (including OTTO Motors) for approximately $609.0 million ($566.0 million cash net of cash acquired plus $43.0 million contingent consideration), a transaction completed in October 2023, structured as cash plus contingent consideration.
Clearpath Robotics (including OTTO Motors) operates in Intelligent Devices, is based in Ontario, Canada. Clearpath Robotics, Inc., including its industrial division OTTO Motors, is headquartered in Ontario, Canada and specializes in autonomous robotics for industrial applications (autonomous mobile robots / AMRs). Intangible assets identified included $269.9 million of technology, $41.6 million of trademarks, and $1.9 million of customer relationships.
Goodwill reflects the future earnings and cash flow potential for the business and resulting synergies from the business portfolio and industry expertise; adds autonomous robotics to Rockwell's Intelligent Devices portfolio.
Intelligent Devices segment
Advisory firms were not disclosed for this transaction.