Kodiak Robotics on Merge Path with Ares Acquisition
Deal News | Mar 14, 2025 | EIN
Ares Acquisition Corp. II, a special purpose acquisition company (SPAC), is in advanced discussions to merge with Kodiak Robotics, as reported by Bloomberg. The SPAC, led by CEO David Kaplin, raised $450 million in April 2023 and is considering potential combinations in various sectors. Kodiak Robotics previously announced sales of driverless RoboTrucks to Atlas Energy Solutions. The potential merger could create a combined entity valued at approximately $2 billion, although the deal is not yet finalized. The report highlights rival bidders are also interested, and terms of the deal could change or talks may fail. Separately, Volvo Trucks announced updates to its VNR regional haul truck with significant improvements in fuel efficiency and safety, and Kalmar Ottawa launched its third-generation OT2 EV electric terminal tractor. Additionally, Greenlane is developing EV charging infrastructure along the I-15 corridor, and Range Energy completed testing on its hybrid electric eTrailer system.
Sectors
- Transportation and Logistics
- Automotive and Electric Vehicles
- Finance and Investment
Geography
- United States – Ares Acquisition Corp. II, Kodiak Robotics, and Volvo Trucks' activities are centered in the U.S., including tech developments and strategic mergers.
Industry
- Transportation and Logistics – This sector is relevant as it involves Kodiak's driverless RoboTrucks and Volvo and Kalmar Ottawa's vehicle innovations.
- Automotive and Electric Vehicles – Relevant due to discussions on advanced vehicle technologies and EV infrastructure by companies like Volvo, Kalmar Ottawa, and Greenlane.
- Finance and Investment – Ares Acquisition Corp. II, a SPAC, is participating in potential finance and investment dealings with Kodiak Robotics.
Financials
- 450 million – The amount raised by Ares Acquisition Corp. II in April 2023 for potential mergers.
- 2 billion – The estimated value of the combined entity post-merger between Ares and Kodiak Robotics.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kodiak Robotics | Target Company | Company | A robotics company specializing in autonomous vehicle technology, involved in merger talks with Ares Acquisition Corp. II. |
| Ares Acquisition Corp. II | Bidding Company | Company | A special purpose acquisition company led by CEO David Kaplin, currently in merger talks with Kodiak Robotics. |
| Atlas Energy Solutions | Customer | Company | The company received driverless RoboTrucks from Kodiak Robotics for logistics operations. |
| Volvo Trucks North America | Other Company | Company | An automotive firm updating its VNR regional haul trucks with improved safety and efficiency features. |
| Kalmar Ottawa | Other Company | Company | A manufacturer of terminal tractors that has launched its OT2 EV electric terminal tractor. |
| Greenlane | Other Company | Company | An EV charging infrastructure provider developing the I-15 Commercial EV Charging Corridor. |
| Range Energy | Other Company | Company | A truck electrification startup that completed winter testing of its eTrailer system. |