Germany-based home appliances manufacturer Vorwerk recently acquired Neato Robotics, a Silicon Valley maker of domestic robots.
Vorwerk is known for its premium products in the household appliances market and Neato Robotics is known for its innovation and technological know-how, mainly in robotic vacuum cleaners.
Vorwerk first invested in Neato Robotics in 2010. Both companies are eager to maximize the exponential growth of the robotic appliance market, individually and collectively, with ‘cross-over’ benefits. [Read more…] about Vorwerk’s acquisition of Neato Robotics adds spark to exponentially growing robotic appliance market, says IHS Markit