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October 5, 2018 02:00 pm

Robot Pioneer Rethink Shuts Down

Rethink Robotics led the way in building robots that could work safely alongside humans. But when it came to selling those robots, Boston-based Rethink came up second best. On Wednesday, without warning, Rethink shut its doors, after a deal to acquire the company fell through. From a report: "We thought that we had a deal that we were going to be able to close," said Rethink chief executive Scott Eckert. But the buyer backed out. Eckert declined to identify the company that had broken off the acquisition. Eckert said Rethink ran low on cash as sales of the company's Baxter and Sawyer robots fell short of expectations. "We got out a little early with a very, very innovative product, and unfortunately did not get the commercial success that we expected to get," he said. Rethink was a pioneer in developing collaborative robots, or "cobots," which are designed to work side-by-side with humans. Their software makes them easy to program, even by workers with no training in robotics, and they come with sensors and software to prevent them from accidentally harming nearby humans.

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