FAQ’s
Soft Robotics rebrand and divestiture of gripper business assets to the Schmalz Group
- About the Acquisition
a.) Why did you divest the end-of-arm-tooling business to Schmalz?
The strategic divestiture of the gripper business to Schmalz Group enables Oxipital AI to bring more value to their customers with a clear focus on vision and AI. Shortly after its launch in the marketplace in 2021, it became clear that our vision and AI products were key to transforming the industry by delivering more resilient and sustainable manufacturing operations for customers. Initially designed around soft grasping, our vision solutions have since been generalized for various end-of-arm tooling to bring value to industries outside of food processing. In 2023, we added deeper object understanding, unlocking AI-enabled inspection applications and cloud-based analytics, giving customers access to actionable insights.
We’re excited at the bright future this focus brings and believe there is no better suitor for the gripper business than Schmalz, a leader in end-of-arm tooling solutions.
b.) How much was the end of arm tooling product line sold for?
Schmalz acquired Soft Robotics’ full end-of-arm tooling product line assets for an undisclosed cash sum.
c.) When do you expect the deal to close?
The acquisition of the end-of-arm-tooling line is expected to close by August 5th.
2. Open Orders, Quotes, and Support
a.) What will happen to my open order?
Depending on the lead time you were quoted, your order will ship on time from Soft Robotics or Schmalz Group. Our intention is to make the integration as seamless as possible for all customers. You should expect Schmalz to contact you directly if you have an open order on the books beyond August 5th.
b.) Who will be my contact for grippers moving forward?
Key employees that are essential to the gripper business will become employees of Schmalz as part of the acquisition. These key employees were carefully selected to ensure a seamless transition for all customers.
For Sales-Related Items: Ben Derrick (ben.derrick@schmalz.com)
For Applications and Support: Ben Gibson (ben.gibson@schmalz.com)
Furthermore, you will be contacted by your new sales representative from the global Schmalz network in the upcoming weeks.
c.) Will my pricing remain the same?
All quotes will remain valid through the expiration date of the quote. New quotes beyond the close of the acquisition will come from Schmalz and pricing is subject to change.
d.) I’ve deployed Soft Robotics grippers on my production line(s). Who will be supporting these deployments going forward?
Until the deal is officially closed, Soft Robotics will remain responsible for all field service and support. Once the deal is closed, Schmalz will be the sole service provider. As part of the acquisition, Schmalz will employ key engineering, operational, and commercial resources from Soft Robotics to ensure customer continuity and seamless support.
e.) Will Schmalz continue to honor my finger subscription?
Yes, Schmalz will honor all existing replacement finger subscriptions. These subscriptions will be revisited upon expiration and negotiated under new terms set by Schmalz.
f.) Are there any changes to the warranty on the products that I have purchased?
We do not expect any change to warranty support during or after the transition of the business line to Schmalz. The agreement will transfer all system records of purchase and customer contact details, and Schmalz is committed to our customers’ success.
g.) I purchased vision products from SRI for use in a trade show demonstration. Will I need to rebrand it?
Equipment purchased for tradeshows starting after August 5, will need to be rebranded. Oxipital AI will contact trade show partners with rebranding kits and instructions following the close of the transaction.
3. Oxipital AI Questions
a.) Will Oxipital AI still have access to grippers for picking solutions?
As part of the acquisition, Oxipital AI and Schmalz have forged a strategic partnership wherein Oxipital AI will receive favorable access to soft gripping technology. This level of access to soft gripping will ensure the most seamless transition for our collective customer while ensuring Oxipital AI can continue proof of concept work for open orders and incoming opportunities.
b.) Why did you change the name of the company and what is the meaning of the new name?
The company’s name was changed to Oxpital AI to better reflect our focus and expertise in vision and AI. The name pays homage to the occipital lobe, the brain’s vision processing center. Our AI-enabled vision systems give robots the ability to make human-like decisions based on product attributes and deliver actionable insights when deployed in inspection applications.
c.) Will Oxipital AI still sell mGripAI?
Oxipital AI will provide AI-enabled vision solutions for robotic handling and inspection applications. When sourced for picking applications, Oxipital AI users will be able to source their own end-of-arm-tool from their preferred vendor. Our picking solutions are compatible with Soft Gripping and Vacuum solutions out of the box and can be configured by the user using our intuitive application builder software.