Wisconsin-based Oshkosh Corp. announced that it has entered into a definitive agreement to acquire Pratt Miller, which makes revolutionary unmanned ground vehicles for the U.S. Army.
According to a corporation news release, U.S. truckmaker Oshkosh will buy Pratt Miller for $115 million.
Additional terms of the transaction were not disclosed but noted that Pratt Miller will maintain its name, team members, facilities and branding elements.
Founded in 1989 and headquartered in New Hudson, Mich., Pratt Miller brings over 30 years of experience solving its customers’ most complex and technical challenges. Led by its world-class engineering and motorsports heritage, Pratt Miller has made significant advances in dynamic growth areas such as artificial intelligence, robotics, autonomous and connected systems and electrification.
“We look forward to welcoming the Pratt Miller team to Oshkosh Corporation,” said John Pfeifer, Oshkosh Corporation President and Chief Operating Officer. “We believe combining Pratt Miller’s engineering expertise with Oshkosh’s innovation and operational strengths will enable us to better serve customers and position our Company for growth.”
“Pratt Miller’s motorsports heritage has created a culture of speed, agility, and innovation, which has defined our success. Oshkosh is an ideal partner for us to apply that mindset to some of the most significant challenges facing customers today,” said Matt Carroll, Pratt Miller Chief Executive Officer. “Together, we expect to grow our decade-long partnership and expand our pipeline of new business opportunities. We look forward to learning from one another and continuing to innovate to bring market-leading products to our customers.”
The transaction is expected to close First Calendar Quarter of 2021 and is subject to customary closing conditions.
On December 23, The WarZone reported that just days before Christmas, the U.S. Army has taken delivery of two Robotic Combat Vehicle-Light autonomous ground drone prototypes, or RCV-Ls, ahead of schedule. American firm Pratt Miller, which is working on the RCV-L program with U.K.-headquartered defense contractor QinetiQ, released a picture of the vehicles sporting red bows just like you’d see in any holiday car commercial.
RCV-L’s 3 and 4 were delivered to GVSC today, 2 weeks ahead of schedule. This completes the full contracted delivery of Robotic Combat Vehicle – Light in preparation for 2021 testing and experimentation. #Army #QinetiQ #RCV #Robotics pic.twitter.com/oqgMpCXQ89
— Pratt Miller (@PrattMiller) December 18, 2020
