PITTSBURGH — Lawrenceville-based RE2 Inc., one of the region’s best-known robotics firms, announced it entered into a definitive merger agreement to be acquired by Salt Lake City, Utah-based Sarcos Technology and Robotics Corp. as part of a deal valued at $100 million.
RE2′s more than 100 employees are expected to be retained by Sarcos (NASDAQ: STRC), and RE2′s founder, president and CEO Jorgen Pedersen will take on the role of Sarcos’ chief operating officer pending the approval of the deal; $70 million of Sarcos common stock and $30 million of Sarcos’ cash on hand.
“The RE2 team is looking forward to joining Sarcos and accelerating the development and adoption of intelligent robotic systems,” Pedersen said in a press release. “Across the globe, robotic technologies are changing the way workers perform complex, often dangerous tasks, particularly during a time of widespread skilled labor shortages. By combining our organizations, Sarcos can now offer a variety of robotic solutions to a broader customer base.”
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