iRobot, the Roomba vacuum cleaner robot manufacturer has just unveiled a plan sale of its security and military. For $ 45 million, the bottom Arlington Capital Partners takes control of this historical activity of iRobot. An activity that has yet allowed American more than 6,000 sell robots to the armed forces and mine-clearance services in many countries. According to the official release, this session will provide the means to consolidate its positions in the market of robots of home services, a mass market on which it has already sold 14 million of robots.
iRobot sells its military robots to finance its repurchase of shares
If the general public know iRobot for its vacuum cleaner Roomba, the American markets for many years a range of robots for recognition and mine clearance in the police forces and the armed forces of many countries. FirstLook, and Kobra PackBot, SUGV, these robots are sold from $20,000 up to $600,000 each. In this regard, $ 45 million may seem a small amount for this historic business originally founded in 1990 by Rodney Brooks, Colin Angle and Helen Greiner. Yet dynamic because activity iRobot had won with the U. S. Navy contract from 96 million in October 2015.
Short term, the sale of this military activity will allow to increase its share buyback campaign. Initially, it was equipped with $ 65 million, so it’s $ 100 million that will be spent to repurchase shares to support the IRBT Court. If the results of iRobot are in steady growth (nearly 557 M$ in 2014 compared to 487 M$ in 2013), iRobot is carried by its growth internationally, particularly in new markets like China but there is more to the sentence in the United States. The expansion of its portfolio of civil robots, particularly towards automatic mowers, enable probably to compensate for the loss of the military market.
Translation : Bing Translator
“iRobot Announces Sale of Defense & Security Business to Arlington Capital Partners”, iRobot press release, february 4, 2016
“iRobot’s robotic lawn mower gets U.S. regulatory approval”, Reuters, august 12, 2015
“Robot Wants to Prove Americans Love Robots, Too”, Bloomberg, january 9, 2014