"iRobot, the company that brought robotic vacuum cleaners to homes and popular culture, has filed for bankruptcy. It plans to sell all assets to its primary supplier, the Chinese company Picea Robotics. Investors "will experience a total loss and not receive recovery on their investment" if the deal is approved, iRobot said. The company didn't discuss how the move might affect its employees in the US or elsewhere."
"Amazon dropped its $1.7 billion acquisition of the company last year after a veto threat from European regulators, leaving the Roomba maker with no other option. Political scrutiny came on two fronts: The company was also reportedly hit hard by Trump's tariffs in Vietnam, where it manufactures products for the US market."
iRobot has filed for bankruptcy and intends to sell all assets to its primary supplier, Chinese company Picea Robotics. Investors "will experience a total loss and not receive recovery on their investment" if the deal is approved. Amazon abandoned a $1.7 billion acquisition last year following a veto threat from European regulators, leaving iRobot without that option. The company reportedly faced additional pressure from tariffs in Vietnam that raised manufacturing costs for the US market. iRobot introduced the first Roomba in 2002. Competition from rivals such as Roborock, Dyson, and Anker's Eufy eroded its market dominance. The company did not disclose employee impacts.
Read at Engadget
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