Swarmer agrees to acquire Ratel Robotics for up to $224 million

Swarmer ($SWMR) signed a definitive agreement to acquire Ratel Robotics, extending its autonomy platform into unmanned ground vehicles. The consideration can reach $224 million in cash and stock, but that maximum includes conditional earnout payments. It is not an unconditional amount payable at closing. Ratel’s product range includes robotic systems used for logistics, casualty evacuation and other ground operations.

The buyer said Ratel had secured $86 million in contracts year to date. That is a contracting figure, not recognized revenue. The combination is expected to create a business with more than 500 employees, adding Ratel’s hardware and manufacturing capabilities to Swarmer’s software-led platform. The transaction remains subject to closing requirements, and the financial outcome will depend partly on whether the conditions attached to the contingent consideration are achieved.

Sources:

• Swarmer — Ratel acquisition agreement