"The transaction will strengthen our financial position and will help deliver continuity for our consumers, customers, and partners. Together, we will work to continue advancing the industry-leading Roomba robots and smart home technologies that have defined the iRobot brand for more than three decades. By combining iRobot's innovation, consumer-driven design, and R&D with Picea's history of innovation, manufacturing, and technical expertise, we believe iRobot will be well equipped to shape the next era of smart home robotics."
"Today's announcement marks a pivotal milestone in securing iRobot's long-term future,"
iRobot filed for Chapter 11 bankruptcy and initiated a restructuring support agreement under which Shenzhen-based Picea Robotics would acquire the company in full. Operations will continue during the Chapter 11 process, with commitments to staff, vendors, and creditors being met. The CEO stated the transaction will strengthen iRobot's financial position and combine iRobot’s R&D and design with Picea’s manufacturing expertise. Roomba sales declined sharply since 2023; Q1 revenue was $145.8 million, a $47.6 million (24.6%) drop year over year. iRobot cited falling consumer sentiment, production delays, and shipping disruptions as causes.
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