CONYERS, Ga., Oct. 10, 2012 /PRNewswire/ -- GeckoSystems Intl.
Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) announced
today their recent international recognition and acclaim has
garnered them some plausible acquisition and joint venture offers.
For over fifteen years GeckoSystems has dedicated itself to
development of "Mobile Robot Solutions for Safety, Security and
Service™."
The recent increase in third party attention and validation of
GeckoSystems BaseBot™ and SafePath™
technologies has drawn the attention of the domestic and
international business communities.
"For some years we have received more attention for our mobile
robot solutions from Asia and
Europe than the U.S. Recently an
EU market research firm, Research and Markets, confirmed the
numerous markets before us and our standing as one of eight key
players in those service robotics markets. Shortly
thereafter, a leading Japanese robot company, ZMP, confirmed, also
independently, that our AI software is complete and sufficient for
beneficially high levels of autonomy and automatic
self-navigation. Now, with several domestic firms actively
engaging us in either acquisition and/or joint venture interests,
we now have even more substance to our long held belief that 'it is
time' for truly cost effective and utilitarian mobile service
robots," observed Martin Spencer,
president/CEO, GeckoSystems.
Kidela.com recently wrote an article on the entrepreneurial
history of the company.
http://www.kidela.com/columns/how-we-started/mobile-robots-are-in-our-future-martin-spencer-of-geckosystems/
ZMP of Japan, an established
vendor of robotic research platforms, has confirmed that the
navigation system used in the BaseBot is "sophisticated" and
"fully developed".
http://www.geckosystems.com/investors/press_releases/20120927_ZMP_Evaluates_BaseBot.php
http://www.zmp.co.jp/html/press_20120924.htm
Research and Markets recently identified GeckoSystems as one of
eight "key market players" along side Honda, iRobot, Sony, Toyota,
and others.
http://www.researchandmarkets.com/publication/9rvoof/personal_professional_service_robotics_mark
This attention has brought inquiries about joint ventures and
possible acquisitions from companies in many different
fields. Some of the opportunities being investigated
include the SafePath™ wheelchair, professional health
care assistance, vehicle navigation – both off road and on,
manufacture of unmanned vehicles – both air and ground, and
commercial security applications.
GeckoSystems' SafePath AI navigation solution is portable and
universal. It works with virtually any locomotion system and
can be adapted to use the data from whatever sensor constellation
is best suited to the application. SafePath collision
avoidance and directional navigation is superior to any system on
the market and it eliminates the need to attempt to "reinvent the
wheel" so that robotic enhanced products can be brought to the
market quickly.
Spencer reflected, "for the benefit of our 1300+ stockholders we
need to consider all of our options. There have been numerous
acquisitions of service robotics businesses in the last few years,
most notably Amazon's acquisition of Kiva Systems for their mobile
robot based fulfillment system and their software, with a value of
$775,000,000."
"Amazon's $775 Million Acquisition
of Kiva Systems Could Shift How Businesses See Robots"
Read more:
http://techland.time.com/2012/03/21/amazons-775-million-acquisition-of-kiva-systems-could-shift-how-businesses-see-robots/
- ixzz28ndBGwLQ
Other recent U.S. acquisitions include:
Aldebaran Robotics – acquired by Softbank.
http://www.vincentabry.com/en/softbank-buys-aldebaran-robotics-for-more-than-100-million-1982
Xollai - acquired by ReconRobotics.
http://www.reconrobotics.com/contact/press_news_4-4-12.cfm
Cybernetix - acquired by Technip.
http://www.technip.com/en/press/technip-acquires-control-cybernetix-through-acquisition-blocks-shares-held-reference-sharehold
Shilling Robotics - acquired by FMC Technologies.
http://ir.fmctechnologies.com/releasedetail.cfm?releaseid=667462
InterSense - acquired by GENTEX
http://www.gentexcorp.com/default.aspx?pageid=4862
Hawkes Remotes - acquired by Bluefin Robotics
http://www.bluefinrobotics.com/news-and-downloads/press/bluefin-robotics-acquires-hawkes-remotes-and-expands-into-rov-market/
Caliper Life Sciences - acquired by PerkinElmer
http://www.caliperls.com/about/news-media-center/press-releases/press-release-20110908.htm
Telerob - acquired by Cobham
http://www.cobham.com/media/226130/362%20cobham%20acquires%20telerob.pdf
InTANK - acquired by A. Hak Industrial Services
http://www.prnewswire.com/news-releases/ahak-industrial-services-bv-purchases-intank-106815838.html
isel Robotik - acquired by Moog
http://www.moog.com/news/operating-group-news/2010/moog-acquires-isel-robotik-usa-llc/
RMT Robotics - acquired by Cimcorp
http://www.rmtrobotics.com/media/pdf/Cimcorpaquiresrmt.pdf
InMoTx - acquired by Adept Technology
http://www.automation.com/content/adept-technology-acquires-inmotx
"Due to the sensitivity and delicacy of these ongoing
negotiations, it would not be in GeckoSystems' stakeholders best
interest to reveal the parties involved, or the precise state of
the negotiations at this time. Regardless, the discussions
are ongoing and continue to progress on a near daily basis.
Of course this bodes well in the event of an acquisition since the
valuation of the company will be based on common financial
valuation tools such as discounted cash flow (DCF) analyses with
sufficiently high hurdle rates. This is very good news since
any acquisition of GeckoSystems would be at a significant premium
to market," concluded Spencer.
About GeckoSystems:
GeckoSystems has been developing innovative robotic technologies
for fifteen years. It is CEO Martin
Spencer's dream to make people's lives better through
robotic technology.
In a recent Research and Markets report:
"The global service robotics market in 2011 was worth
$18.39 billion. This market is valued
at $20.73 billion in 2012 and
expected to reach $46.18 billion by
2017 at an estimated CAGR of 17.4% from 2012 to 2017. The market is
driven by factors like ageing population, value enhancement by
robots, increasing grants and funds by governments, increasing
venture capital investments in service robotics companies,
enhancements in complementary technologies and integration of
robotics with mobile technologies, other smart products, and
appliances."
http://www.researchandmarkets.com/publication/9rvoof/personal_professional_service_robotics_mark
GeckoSystems projects the available market size in dollars for
cost effective, utilitarian, multitasking eldercare personal robots
in 2013 to be $74.0B, in 2014 to be
$77B, in 2015 to be $80B, in 2016 to be $83.3B, and in 2017 to be $86.6B. With market penetrations of 0.03%
in 2013, 0.06% in 2014, 0.22% in 2015, 0.53% in 2016, and 0.81% in
2017, we anticipate CareBot sales, from this consumer market
segment, only, of $22.0M,
$44.0M, $176M, $440.2M, and
$704.3M, respectively. The company is
presently securing funding for manufacturing, marketing and final
beta testing of their CareBot.
An overview of GeckoSystems' progress and accomplishments
containing over 700 pictures and 120 videos can be found at
http://www.geckosystems.com/timeline/.
These videos illustrate the development of the technology that
makes GeckoSystems a world leader in Service Robotics development.
Early CareBot prototypes were slower and frequently pivoted in
order to avoid a static or dynamic obstacle; later prototypes
avoided obstacles without pivoting. Current CareBots
avoid obstacles with a graceful "bicycle smooth" motion. The
latest videos also depict the CareBot's ability to automatically go
faster or slower depending on the amount of clutter (number of
obstacles) within its field of view. This is especially
important when avoiding moving obstacles in "loose crowd "
situations like a mall or an exhibit area.
In addition to the timeline videos, GeckoSystems has numerous
YouTube videos. The most popular of which are the ones showing
room-to-room automatic self-navigation of the CareBot through
narrow doorways and a hallway of an old 1954 home. You will
see the CareBot slow down when going through the doorways because
of their narrow width and then speed up as it goes across the
relatively open kitchen area. There are also videos of the
SafePath™ wheelchair, which is a migration of the
CareBot AI centric navigation system to a standard power
wheelchair, and recently developed cost effective depth cameras
were used in this recent configuration.
SafePath™ navigation is now available to OEM licensees
and these videos show the versatility of GeckoSystems' fully
autonomous navigation solution.
GeckoSystems, Star Wars™ Technology
http://www.youtube.com/watch?v=VYwQBUXXc3g
The company has successfully completed an Alpha trial of its
CareBot personal assistance robot for the elderly. It was
tested in a home care setting and received enthusiastic support
from both caregivers and care receivers. The company
believes that the CareBot will increase the safety and well being
of its elderly charges while decreasing stress on the caregiver and
the family.
GeckoSystems is preparing for Beta testing of the CareBot prior
to full-scale production and marketing. CareBot has
recently incorporated Microsoft Kinect depth cameras that will
result in a significant cost reduction.
Kinect Enabled Personal Robot video:
http://www.youtube.com/watch?v=kn93BS44Das
Above, the CareBot demonstrates static and dynamic obstacle
avoidance as it backs in and out of a narrow and cluttered
alley. There is no joystick control or programmed path;
movements are smoother that those achieved using a joystick
control. GeckoNav creates three low levels of obstacle
avoidance: reactive, proactive, and contemplative.
Subsumptive AI behavior within GeckoNav enables the CareBot to
reach its target destination after engaging in obstacle
avoidance.
More information on the CareBot personal assistance robot:
http://www.geckosystems.com/markets/CareBot.php
GeckoSystems stock is quoted in the U.S. over-the-counter (OTC)
markets under the ticker symbol GOSY. GeckoSystems is
"Current Information."
http://www.otcmarkets.com/stock/GOSY/quote
Here is a "basher free" message board devoted to GOSY:
http://investorshangout.com/board/62282/Geckosystems+Intl+Co-GOSY
Here is Spencer's LinkedIn profile:
http://www.linkedin.com/pub/martin-spencer/11/b2a/580
Telephone:
Main number: 1-866-CAREBOT (227-3268)
International: +1 678-413-9236
Fax: +1 678-413-9247
Website: http://www.geckosystems.com/
Source: GeckoSystems Intl. Corp.
Safe Harbor:
Statements regarding financial matters in this press release
other than historical facts are "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, Section
21E of the Securities Exchange Act of 1934, and as that term is
defined in the Private Securities Litigation Reform Act of 1995.
The Company intends that such statements about the Company's future
expectations, including future revenues and earnings, technology
efficacy and all other forward-looking statements be subject to the
Safe Harbors created thereby. The Company is a development stage
firm that continues to be dependent upon outside capital to sustain
its existence. Since these statements (future operational results
and sales) involve risks and uncertainties and are subject to
change at any time, the Company's actual results may differ
materially from expected results.
SOURCE GeckoSystems Intl. Corp.
