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Amazon Acquires Covariant Founders and Staff, Signs License to Boost Automation
Aug 31, 2024, 04:01 AM
Amazon has confirmed the acquisition of key personnel from Covariant, an industrial robotics company, in a strategic move aimed at enhancing its warehouse automation capabilities. The deal involves hiring the founders of Covariant and approximately 25% of its staff. Additionally, Amazon has signed a non-exclusive licensing agreement for Covariant's robotic foundation models. This type of acquisition, often referred to as a 'reverse acquihire,' allows Amazon to integrate Covariant's expertise and technology into its operations, potentially increasing efficiency in its e-commerce logistics.
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