FORT Robotics to Become Public Through Merger with Newbury Street II Acquisition Corp
- Published
FORT Robotics has announced a definitive business combination agreement with Newbury Street II Acquisition Corp, which will lead to the formation of FORT Robotics Holdings, Inc. The new entity is expected to be publicly traded on the Nasdaq under the ticker symbol 'FROB', with a pro-forma enterprise value of $556.6 million.
This merger is significant as FORT Robotics has established itself as a key player in safety solutions for the robotics industry, serving over 600 customers, including major names like Google DeepMind and DoorDash. The company’s Trust Layer technology, which is designed to ensure safe operation of autonomous machines alongside humans, is backed by 25 patents and certified to meet Safety Integrity Level 3.
Looking ahead, FORT Robotics aims to address the evolving risk profiles associated with physical AI technologies. The company’s recent acquisition of Mapless AI enhances its capabilities in teleoperation and safety, positioning it for future growth. No further timeline was disclosed at the time of publication.
Original report
FORT Robotics to go public via business combination with Newbury Street II Acquisition Corp
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