iRobot Corp., a leader in delivering robotic technology-based solutions, today announced it has signed a definitive agreement to acquire privately-held Evolution Robotics, Inc. (ER), developer of Mint® and Mint® Plus automatic floor cleaning robots, based in Pasadena, California. The acquisition and the definitive agreement have been approved by the board of directors of iRobot and the board of directors and stockholders of ER. The acquisition, which is expected to close in the fourth quarter of 2012, expands iRobot’s technology leadership through a combination of intellectual property, engineering talent and new products that will broaden iRobot’s global portfolio of practical robotics solutions. iRobot will acquire ER for $74 million, subject to customary purchase price adjustments. iRobot will use its cash reserves to pay for the acquisition.
Have an amazing project to share? Join the SHOW-AND-TELL every Wednesday night at 7:30pm ET on Google+ Hangouts.
Join us every Wednesday night at 8pm ET for Ask an Engineer!
Learn resistor values with Mho’s Resistance or get the best electronics calculator for engineers “Circuit Playground” – Adafruit’s Apps!
Maker Business — “Finally — some data on whether crowdfunding is a good investment or not”
Wearables — Sample code is your new best friend
Electronics — Meaningful gains
Sorry, the comment form is closed at this time.