STIHL has acquired almost a quarter of the Danish robot company TinyMobileRobots.
In an official statement the two companies said that STIHL's robotic lawn mowers share a strong technical kinship with the line marking robots produced by TinyMobileRobots, intended for use in sports fields and road construction.
The statement continued that during the last couple of years, STIHL Group has been following TinyMobileRobots closely as the company has grown 100 percent per year. Therefore, the corporate venture arm of the STIHL Group, STIHL Digital, has now acquired 23.8% of TinyMobileRobots, thus buying out the company's former venture capital company Borean Innovation.
Jens Peder Kristensen, founder and CEO of TinyMobileRobots said, "We have been looking for a strong partner who can support our continued growth. Having STIHL as a partner is nothing short of a dream come true. Right from the outset, we will also benefit greatly from STIHL's world-wide network of dealers. While maintaining our status as an independent company, we can draw on STIHL's huge market experience to accelerate our growth further. To put it mildly, I'm very, very happy with this new development."
Benjamin Junghans, director of STIHL Digital added, "We have been in close contact with TinyMobileRobots for more than two years, and steadily, we have become more and more impressed with their growth rates and performance. So as the chance to acquire nearly a quarter of the company arose, we were quick to strike a deal. We feel convinced that our future collective efforts will lead to an even greater share of TinyMobileRobots' fast growing and innovation driven market."