Tuesday, 5 April 2016

iRobot announces the sale of its Defense & Security Business to Arlington Capital Partners

iRobot Corp., a leader in delivering robotic technology-based solutions, today announced that it has closed the previously announced sale of its Defense & Security business to Arlington Capital Partners for up to $45 million in total consideration, including a contingent payment based on achieving certain milestones. Proceeds from the sale will be used for iRobot's previously announced $85 million Accelerated Share Repurchase.
iRobot's Kobra system. (Photo courtesy iRobot)
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