Press release

Progress Partners Advises on Boston Dynamics’ Acquisition of Kinema Systems

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Progress
Partners
, a Boston- and New York-based M&A advisory firm, is pleased
to announce that it has advised Boston
Dynamics
, an advanced robotics company, on their acquisition of Kinema
Systems
, a deep learning-based computer vision company. Kinema
Systems’ vision system will support the development of Boston Dynamics’
product offerings in the logistics and autonomy space.

“We are excited to bring Kinema Systems’ vision systems and
deep-learning software to our robots to increase speed and agility, and
will be working with the Kinema team to grow sales and support of the
Pick system. With this acquisition we will also be expanding our
presence and team to the Bay Area, allowing for various employment
opportunities,” commented Boston Dynamics’ Chief Operations Officer,
Robert Playter.

The M&A advisory team from Progress Partners, which acted as financial
advisor to Boston Dynamics in the transaction, was led by Nick MacShane,
Senior Managing Director, and David Arslanian, Managing Director. “The
Progress team made great partners. They diligently performed analysis
and assistance in all key areas” added Playter. David Arslanian
reflected on the growth potential for both companies from the
transaction, “We are pleased for Boston Dynamics and Kinema Systems to
begin a new chapter. The combination of these two complementary
companies will yield significant value in the commercial and R&D
robotics market in the near term.”

About Boston Dynamics
Boston Dynamics develops some of the
world’s most advanced robots, such as Atlas, Spot, Handle and BigDog. It
has become a leader in the design, development and field testing of
advanced robots that have agility, dexterity, perception and
intelligence.
https://www.bostondynamics.com

About Kinema Systems
Kinema Systems creates learning-based
computer vision systems for a wide variety of applications. Their
initial product, is the world’s first deep learning 3D vision system for
industrial robots. Designed for de-palletization of multi-SKU (stock
keeping unit), single-SKU, and random pallets.
http://www.kinemasystems.com

About Progress Partners
Progress Partners is a Boston and
New York-based M&A advisory firm working with emerging technology
companies within media, marketing, advertising sectors, serving SMB
through Enterprise. Progress Partners works with buyers and sellers of
high growth companies to complete M&A transactions, raise debt or equity
capital, as well as, develop and implement strategic growth plans. The
firm’s high standards of excellence, deep industry experience, extensive
network, and entrepreneurial background give Progress Partners the
ability to build and realize superior value for its clients. Securities
offered by Applied Capital, LLC, member of FINRA and SIPC. www.progresspartners.com.