Shares of Amazon.com (NASDAQ: AMZN) climbed 2.7% on Friday after the e-commerce titan moved to bolster its robotics expertise.
Amazon struck a deal to acquire Cloostermans. The Belgium-based company designs and manufactures cutting-edge technology that can be used to move items through warehouses more efficiently. The financial terms of the agreement were not disclosed.
Amazon's relationship with Cloostermans began in 2019. The e-commerce giant uses Cloostermans' tools to move heavy pallets and totes through its warehouses. Now, Amazon wants to use the tech company's engineering expertise to develop more advanced solutions, which it hopes will enhance its employees' productivity, reduce waste, and improve worker safety at its warehouses.
Source Fool.com