Robomow Merger with MTD to Increase US Sales
A subsidiary of MTD Products is merging with F. Robotics Acquisitions Ltd – 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.
Robomow Merger with MTD: What They Say
“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 WOLFGarten brands. At the same time, we expect the Robomow brand to profit from MTD’s global reach and presence.”
– Rob Moll, CEO, MTD Products
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. We are excited to see this investment reach its full potential in the market via MTD’s leading brands and distribution.
– Udi Peless, CEO, Friendly Robotics
We recently previewed a new lawn mower that dynamically adapts to the user’s direction and provides assistance in forward and reverse. But robotic lawn mowing? Well, that’s a whole different animal. If the Jetsons had a lawn, this would be their lawnmower. We’ve all seen the robotic carpet and floor vacuums that work while we relax – or at least do something else – but apparently that some concept hasn’t made the jump outside to our lawns quite like it has in Europe. Executive Editor Clint DeBoer has a Husqvarna robotic mower but, aside from his lawn, we can’t think of another lawn that’s cut with one in our PTR circles.
Aside from the acquisition being about increasing profits in a growing market, consumers looking for a robotic option will likely have an easier time getting their hands on one. The question we still have is how much the service end will also increase. We mow once a week 5 months out of the year, so a two or three-week gap will leave the mower powerless against the really tall stuff.