iRobot, the US company which makes consumer robots such as the Roomba robotic vacuum cleaner range, has closed the previously announced acquisition of Robopolis, a French company.
The preliminary purchase price of $141 million is subject to normal purchase price adjustments and is expected to be finalized no later than the first quarter of 2018.
Europe is a key strategic region for iRobot and provides “an excellent opportunity for further growth”, says the company.
As announced in July, the acquisition will enable iRobot to capitalize on the current market momentum, driving accelerated adoption of robotic floor cleaners.
The EMEA region comprised approximately 25 per cent of iRobot’s 2016 consumer revenue. Robopolis represented nearly half of iRobot’s EMEA revenues in 2016.
With the acquisition, iRobot will further extend its overseas control of market activities, including consistent global messaging, that will help drive greater adoption of robotic vacuum cleaners and affirm iRobot’s market position, says the company.
Colin Angle, chairman and chief executive officer of iRobot, says: “As iRobot expands globally, we are excited about the current and future opportunities in Europe.
“With the closing of this acquisition, we welcome a team that has already solidified iRobot’s market leading position in Europe and is well positioned to drive continued growth in the region.”
Led from the London, UK office, iRobot will maintain operations in Germany, Spain, France, Belgium, Austria, the Netherlands, and Portugal.
The existing Robopolis management team will join iRobot.
Jean-Jacques Blanc, currently iRobot’s vice president and general manager, Overseas, will lead the combined operations reporting to iRobot’s chief operating officer Christian Cerda.
Denis Guyennot, the CEO of Robopolis, was instrumental in establishing iRobot as the leading consumer robotics brand in Western Europe.
Denis will remain with iRobot as a consultant to ensure a successful integration of Robopolis and iRobot.
Additional financial details will be provided as part of iRobot’s earnings call on October 25, 2017.