ST Engineering completes 100% stake buy in Aethon

Aethon becomes part of the company's land systems segment.

Singapore Technologies Engineering Ltd (ST Engineering) welcomes Aethon, Inc. (Aethon) to its Land Systems segment after it completed its 100% interest acquisition.

Aethon is a subsidiary of Vision Technologies Land Systems, Inc. (VTLS).

The acquisition was completed following the fulfillment of closing conditions. It was announced in July 2017 that the acquisition is worth $50m.

Aethon is best known for its TUG smart autonomous mobile robot which automates intralogistics in industrial, healthcare, hospitality sectors.

"The acquisition of Aethon, a leading provider of autonomous mobile robots for material transportation and delivery, is in line with ST Engineering’s focus to strengthen the Group’s robotics business," ST Engineering said.

Aethon has been added to the Land Systems sector.

The new acquisition is not expected to affect company performance for the current year.