iRobot filed for bankruptcy
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How iRobot lost its way home
Robot survived three decades of competition, but couldn't survive European regulators killing its Amazon buyout. Now it's being taken over by its own supplier in bankruptcy court.
IEEE Spectrum on MSN
iRobot’s co-founder weighs in on company’s bankruptcy
According to iRobot’s press release, “this agreement represents a critical step toward strengthening iRobot’s financial foundation and positioning the Company for long-term growth and innovation,” which sounds like the sort of thing that you put in a press release when you’re trying your best to put a positive spin on really,
Vacuum robot maker IRobot filed for bankruptcy and will be acquired by Chinese supplier Picea Robotics, ending its independent operations. Roomba users fear “bricking” — the risk that their smart vacuums will stop working without software updates after the Chinese acquisition takes effect.
Robot has begun bankruptcy proceedings under which its Chinese creditors will acquire the consumer robot company and continue the brand.
Under the restructuring agreement, Picea will acquire all of iRobot's equity and take the company private. The deal is expected to help stabilize iRobot's balance sheet, streamline operations and give the company room to refocus on its core robotics lineup.
The original Roomba was the first robot vacuum in the US, and the second ever made, following Electrolux’s Trilobite the year prior. A basic bump-and-roll bot with bump and cliff sensors, the Roomba rolled randomly around your home, sucking up dirt, bumping from wall to wall, and generally trying not to fall down stairs.