iRobot has signed a definitive agreement to sell its defense and security business to Arlington Capital Partners for up to $45 million in total consideration, including a contingent payment based on achieving certain milestones.
This transaction enables iRobot to solidify its position as the leader in diversified Home Robots and focus on technologies for the connected home, said the company.
“In the spring of 2014, we engaged Blackstone Advisory Partners LP, now known as PJT Partners, to review strategic alternatives for our Defense and Security business,” said Colin Angle, iRobot chairman and chief executive officer. [Read more…] about iRobot sells its defense and security business to Arlington Capital Partners
