Founded in 1995 in Pardesiya, Israel, F.Robotics Acquisitions Ltd. has 22 years’ experience in developing and manufacturing robotic lawn mowers, with Europe as their main sales market.
MTD aims to leverage the specialist’s technology for developing the entire MTD brand portfolio in Europe and the USA. The Robomow brand will be continued by MTD and integrated into its existing international portfolio.
MTD Products chief executive Rob Moll said: "Both MTD and Robomow see tremendous opportunities to grow our brands through this merger of our products and talents. Initially, we will be looking to market Robomow technology under our Cub Cadet and WOLF-Garten brands. At the same time, we expect the Robomow brand to profit from MTD’s global reach and presence."
E P Barrus, UK sales and distributor for MTD’s portfolio, "welcomes" the integretion of the technology under the Cub Cadet and WOLF-Garten brands.
The European robotic technology for small garden use market is showing annual increases of more than 30 per cent. The worldwide market volume for robotic technology totals 1.6 billion euros.
Moll added: "Boosting demand in the North American market and gaining additional global market share are among the goals MTD will be pursuing going forward."
Following the merger with MTD, headquarters of F. Robotics Acquisitions will remain in Pardesiya, Israel. Business operations will continue to be overseen by the existing management team and will be supported by MTD divisions in Europe, North America and the Asia-Pacific with regard to achieving growth and innovation goals.
F Robotics chief executive Udi Peless said: "For the last 22 years we have been focused on developing innovative technologies and leading robotic mowing products. We are excited to see this investment reach its full potential in the market via MTD’s leading brands and distribution,"
With the acquisition of F. Robotics Acquisitions Ltd., MTD has completed its now fourth takeover since 2015, including CORE Outdoor Power (CORE), Precise Path Robotics and ATT.