A subsidiary of MTD Products is merging with F. Robotics Acquisitions, makers of the Robomow, enabling opportunities to employ RoboMow’s progressive technology under MTD’s brands in Europe and North America. The Robomow merger with MTD closes on July 2, 2017, pending governmental and other approvals. The transaction will combine Robomow’s technology and award-winning robotic lawn mowers with MTD’s broader outdoor power equipment portfolio and extensive global network of dealers.
“Both MTD and Robomow see tremendous opportunities to grow our brands through this merger of our products and talents,” says Rob Moll, CEO of MTD Products. “Initially, we will be looking to market Robomow technology under our Cub Cadet and WOLFGarten brands and at the same time, we expect the Robomow brand to profit from MTD’s global reach and presence.”
Moll says that ultimately MTD will be exploring ways to foster demand for robotic technology for residential lawns in North America. The technology already has a grip in Europe, and the market is growing globally at a rate of 15% or more annually.
“For the last 22 years, we have been focused on developing innovative technologies and leading robotic mowing products,” says Udi Peless, CEO of Friendly Robotics. “We are excited to see this investment reach its full potential in the market via MTD’s leading brands and distribution."