Rockwell Automation signs agreement to acquire Waterloo-based Clearpath Robotics
Summary
Founded in 2009 by a quartet of graduates from University of Waterloo’s mechatronics engineering program, Clearpath Robotics’ mission statement is to automate “the world’s dullest, dirtiest, and deadliest jobs.” Clearpath followed its $14-million CAD Series A in March 2015, led by RRE Ventures alongside participation from iNovia Capital, with the launch of OTTO, its warehouse-focused autonomous mobile robotics (AMR) division in September 2015. According to the Rockwell Automation’s website, the company has roots spanning over a century. According to a press release, Clearpath will “report to” Rockwell’s Intelligent Devices operating segment once the deal is closed. Regarding the acquisition, Rockwell said in a press release that “the addition of OTTO Motors’ AMR capabilities will create a complete portfolio of advanced material handling solutions unmatched in the industry.” Details about Clearpath’s future operations, location, leadership, and staffing under the merger are not yet known. In 2020, Rockwell acquired Toronto-based Fiix, a platform with computerized management systems for the scheduling, organizing, and tracking of equipment maintenance.
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