BOSTON & NEW YORK--(BUSINESS WIRE)--Apr 12, 2019--Progress Partners, a Boston- and New York-based M&A advisory firm, is pleased to announce that it has advised Boston Dynamics, an advanced robotics company, on their acquisition of Kinema Systems, a deep learning-based computer vision company. Kinema Systems’ vision system will support the development of Boston Dynamics’ product offerings in the logistics and autonomy space.
“We are excited to bring Kinema Systems’ vision systems and deep-learning software to our robots to increase speed and agility, and will be working with the Kinema team to grow sales and support of the Pick system. With this acquisition we will also be expanding our presence and team to the Bay Area, allowing for various employment opportunities,” commented Boston Dynamics’ Chief Operations Officer, Robert Playter.
The M&A advisory team from Progress Partners, which acted as financial advisor to Boston Dynamics in the transaction, was led by Nick MacShane, Senior Managing Director, and David Arslanian, Managing Director. “The Progress team made great partners. They diligently performed analysis and assistance in all key areas” added Playter. David Arslanian reflected on the growth potential for both companies from the transaction, “We are pleased for Boston Dynamics and Kinema Systems to begin a new chapter. The combination of these two complementary companies will yield significant value in the commercial and R&D robotics market in the near term.”
About Boston Dynamics
Boston Dynamics develops some of the world's most advanced robots, such as Atlas, Spot, Handle and BigDog. It has become a leader in the design, development and field testing of advanced robots that have agility, dexterity, perception and intelligence.
About Kinema Systems
Kinema Systems creates learning-based computer vision systems for a wide variety of applications. Their initial product, is the world’s first deep learning 3D vision system for industrial robots. Designed for de-palletization of multi-SKU (stock keeping unit), single-SKU, and random pallets.
About Progress Partners
Progress Partners is a Boston and New York-based M&A advisory firm working with emerging technology companies within media, marketing, advertising sectors, serving SMB through Enterprise. Progress Partners works with buyers and sellers of high growth companies to complete M&A transactions, raise debt or equity capital, as well as, develop and implement strategic growth plans. The firm's high standards of excellence, deep industry experience, extensive network, and entrepreneurial background give Progress Partners the ability to build and realize superior value for its clients. Securities offered by Applied Capital, LLC, member of FINRA and SIPC. www.progresspartners.com.
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CONTACT: Progress Partners
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA MASSACHUSETTS NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY ELECTRONIC DESIGN AUTOMATION HARDWARE SOFTWARE OTHER TECHNOLOGY PROFESSIONAL SERVICES CONSULTING
SOURCE: Progress Partners
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PUB: 04/12/2019 08:00 AM/DISC: 04/12/2019 08:00 AM