M&A Deal Summary

U. S. Steel Acquires Freespace Robotics

On March 11, 2024, U. S. Steel acquired business services company Freespace Robotics

Acquisition Highlights
  • This is U. S. Steel’s 1st transaction in the Business Services sector.
  • This is U. S. Steel’s 5th transaction in the United States.
  • This is U. S. Steel’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2024-03-11
Target Freespace Robotics
Sector Business Services
Buyer(s) U. S. Steel
Deal Type Add-on Acquisition

Target

Freespace Robotics

Pittsburgh, Pennsylvania, United States
website
Freespace Robotics is a warehouse automation company with a reimagining of Automated Storage and Retrieval Systems (AS/RS) that are space efficient and high-speed; capable of high-volume movement of goods, in nearly any size, shape, and temperature environment. It is a robotic automation and AI company laser-focused on delivering unimagined advances in order fulfillment and movement of goods. Freespace Robotics is based in Pittsburgh, Pennsylvania.

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Buyer(S) 1

Buyer

U. S. Steel

Pittsburgh, Pennsylvania, United States

website

Category Company
Founded 1901
Sector Metals/Mining
Employees23,350
Revenue 21.1B USD (2022)
DESCRIPTION

U. S. Steel is an integrated steel producer with major production operations in the United States, Canada and Central Europe and an annual raw steelmaking capability of 27 million net tons. The company manufactures a wide range of value-added steel sheet and tubular products for the automotive, appliance, container, industrial machinery, construction, and oil and gas industries. U. S. Steel was founded in 1901 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 6 of 6
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 5 of 5
State (Pennsylvania) 1 of 1
Country (United States) 5 of 5
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-01 Big River Steel

Osceola, Arkansas, United States

Big River Steel is a new steel mini-mill being built with the latest technology to be the most advanced and efficient mini-mill in the United States. Big River was formed in 2014 and is based in Osceola, Arkansas.

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