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© mailthepic dreamstime.com Electronics Production | April 05, 2016

iRobot closes sale of Defense & Security business

Robotic technology-based solutions provider, iRobot Corp. has closed the sale of its Defense & Security business to Arlington Capital Partners for USD 45 million.
The transaction enables iRobot to solidify its position on Home Robots playing field and focus on technologies for the connected home. A private, standalone company, Endeavor Robotics has been established by Arlington Capital Partners to focus on the defence, public safety and industrial markets.

"The closing of the Defense & Security business sale marks a new beginning for iRobot as we put our full focus on the home," said Colin Angle, chairman and CEO of iRobot.

"Successful new product introductions including Braava jet and Roomba 980 point to significant growth opportunities in the consumer robotics market. We look forward to capitalizing on our home-focused strategy through new consumer products and technologies for the connected home, continued expansion in key international markets including China, and increased investment in global marketing campaigns," Angle adds.

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