June 17, 2010 (FinancialWire) — Adept Technology, Inc. (NASDAQ: ADEP) said it has entered into an agreement to acquire privately held MobileRobots Inc., a provider of industry leading autonomous robot and automated guided vehicle technologies.

Based in New Hampshire, MobileRobots positions Adept to deliver productivity gains in unstructured environments, many of which reside beyond traditional robot applications. Equipping Adept's global sales channels with autonomous robots and associated technologies will enable the company to address the needs of the production logistics markets.

MobileRobots platforms are able to navigate in unstructured environments and provide solutions and flexibility in delivering supplies, components and parts in complex and peopled environments.

The terms of the acquisition involve approximately $1 million of cash at closing, plus 763,359 shares of Adept common stock which is subject to vesting conditions, and a contingent cash payment of up to $320,000 after one year for an estimated transaction value of $4.5 million.

Adept is a global, provider of intelligent robotics systems and services that enable customers to achieve precision, speed, quality and productivity in their assembly, handling, packaging, testing and other automated processes.

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