Robohub.org
 

iRobot acquires competitor Evolution Robotics for $74 million

by
20 September 2012



share this:

Mint floor cleaning robots produced by Evolution Robotics differ from iRobot’s methods; plan is for them to be developed and marketed as complementary.

Evolution’s CEO Paulo Pirjanian will become the new iRobot CTO replacing Joe Dyer who is retiring.

Financial downside of the acquisition is that iRobot must sell off Evolution’s inventory at breakeven plus they acquired a loss of $7 million and a very low GP margin for the whole product line. So Q4 and the next 2-3 quarters for iRobot are going to take a big hit—as did iRobot’s stock yesterday and today on the news.

The acquisition includes many US and international patents. iRobot CEO Colin Angle said that the patents and technology acquired from Evolution – particularly involved with visual SLAM technology – will enable iRobot to navigate future floor cleaning robots at lower cost.

To read a transcript of Colin Angle’s comments and answers to investor questions, click here.




Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.
Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.





Related posts :



Robot Talk Episode 90 – Robotically Augmented People

In this special live recording at the Victoria and Albert Museum, Claire chatted to Milia Helena Hasbani, Benjamin Metcalfe, and Dani Clode about robotic prosthetics and human augmentation.
21 June 2024, by

Robot Talk Episode 89 – Simone Schuerle

In the latest episode of the Robot Talk podcast, Claire chatted to Simone Schuerle from ETH Zürich all about microrobots, medicine and science.
14 June 2024, by

Robot Talk Episode 88 – Lord Ara Darzi

In the latest episode of the Robot Talk podcast, Claire chatted to Lord Ara Darzi from Imperial College London all about robotic surgery - past, present and future.
07 June 2024, by

Robot Talk Episode 87 – Isabelle Ormerod

In the latest episode of the Robot Talk podcast, Claire chatted to Isabelle Ormerod from the University of Bristol all about human-centred design and women in robotics.
31 May 2024, by

Robot Talk Episode 86 – Mario Di Castro

In the latest episode of the Robot Talk podcast, Claire chatted to Mario Di Castro from CERN all about robotic inspection and maintenance in hazardous environments.
24 May 2024, by

Congratulations to the #ICRA2024 best paper winners

The winners and finalists in the different categories have been announced.
20 May 2024, by





Robohub is supported by:




Would you like to learn how to tell impactful stories about your robot or AI system?


scicomm
training the next generation of science communicators in robotics & AI


©2024 - Association for the Understanding of Artificial Intelligence


 












©2021 - ROBOTS Association