CONYERS, GA -- (Marketwire) -- 10/25/12 -- GeckoSystems Intl. Corp. (PINKSHEETS: GOSY) (http://www.geckosystems.com/) revealed today that the previously announced acquisition and joint venture offers have moved to the next stage. Recent international recognition and acclaim has heightened plausible acquisition and/or joint venture discussions. 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 continues to draw 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 discussions, 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.
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."
Research and Markets recently identified GeckoSystems as one of eight "key market players" along side Honda, iRobot, Sony, Toyota, and others.
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
"In the last few days, two (2) nondisclosure agreements (NDA's) have been effectuated. Due to the sensitivity and delicacy of these ongoing negotiations that are now under binding, bilateral NDA's, it would not be in GeckoSystems' stakeholders best interest to reveal the specific parties involved at this time other than they have moved to a higher level of serious discussions. Regardless, the discussions are ongoing and have achieved an important milestone this week due to the need for the highest standards of confidentiality to protect all parties involved. Of course this bodes well in the event of an acquisition since the valuation of the company will be based on standard financial valuation analyses, such as Discounted Cash Flow (DCF), 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.
Other recent U.S. robotics company acquisitions include:
Aldebaran Robotics -- acquired by Softbank
Xollai -- acquired by ReconRobotics
Cybernetix -- acquired by Technip
Shilling Robotics -- acquired by FMC Technologies
Trimaster -- acquired by Multivac
InterSense -- acquired by GENTEX
Hawkes Remotes -- acquired by Bluefin Robotics
Caliper Life Sciences -- acquired by PerkinElmer
Telerob -- acquired by Cobham
InTANK -- acquired by A. Hak Industrial Services
isel Robotik -- acquired by Moog
RMT Robotics -- acquired by Cimcorp
InMoTx -- acquired by Adept Technology
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
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:
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:
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:
Here is Spencer's LinkedIn profile:
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.
GeckoSystems Intl. Corp.
Main number: 1-866-CAREBOT (227-3268)
International: +1 678-413-9236
Fax: +1 678-413-9247
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