Symbotic acquires Veo Robotics in $8.7M transaction

Symbotic announced it has acquired substantially all of the assets of Veo Robotics, an innovator in intelligent safeguarding for industrial robots. Assets purchased under this agreement include the FreeMove(R) 3D depth-sensing computer vision system for industrial workcells and all related intellectual property. By integrating FreeMove into its robotic warehouse automation system, Symbotic expects to increase productivity with more dynamic, flexible human-machine collaboration. “The innovative FreeMove vision system allows Symbotic to enhance productivity for customers and provide the highest levels of safety in environments where humans interact with robots,” said Rick Cohen, Chairman and Chief Executive Officer of Symbotic. “We are pleased to have the former Veo Robotics team join Symbotic where they will continue this exciting work as they bring their talent, expertise, and cutting-edge technology to our company.” The $8.7M transaction closed on July 19, 2024.