by Richard Tomkins
Washington (UPI) Feb 4, 2016
The Defense & Security business unit of iRobot Corporation is being acquired by Arlington Capital Partners, a private equity firm.
According to ACP, the unit will operate as a newly created independent company under a name to be determined at the time of the deal's closing.
Financial details of the transaction have not been disclosed.
iRobot, headquartered in Massachusetts, is a major supplier of ground-based robots to the U.S. Department of Defense. Its four classes of robots -- FirstLook, SUGV, PackBot and Kobra -- are used in counter-mine and surveillance/reconnaissance missions.
In addition to those delivered to the U.S. military, more than 6,000 of iRobot's machines have been delivered to customers worldwide.
"It is an exciting time for the company," said Tom Frost, currently the senior vice president and general of iRobot's Defense & Security business. "Building on our long history of innovation and technological achievement serving the defense and security markets as a part of iRobot, we are looking forward to continuing our committed, customer focused approach as a new company."
Frost is to be named president of the new company.
"We are extremely excited to partner with the Defense & Security team at iRobot," added Peter Manos, a managing partner at Arlington Capital Partners. "The Defense & Security business has an established reputation for cutting edge technology, industry-leading reliability and battle-tested functionality.
"We look forward to further consolidating the company's preeminent position in robotics through organic investment and acquisitions."
ACP said the new company is to develop new robotic platforms, from five pounds in weight to 300 pounds in weight.
All about the robots on Earth and beyond!
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