Earlier this week, Amazon.com announced it was following through on plans to acquire Kiva Systems, Inc., a maker of robots and robotic platforms used in warehouses and shipping operations. Terms of the agreement indicate that Amazon will acquire all shares of Kiva for approximately $775 million in cash, and the deal is slated to close in Q2.
Dave Clark, Amazon.com’s vice president, global customer fulfillment, pointed to the fact that Kiva shares Amazon’s passion for invention as a key ingredient to the new partnership. “Amazon has long used automation in its fulfillment centers, and Kiva’s technology is another way to improve productivity by bringing the products directly to employees to pick, pack and stow,” he said.
“For the past ten years, the Kiva team has been focused on creating innovative material handling technologies,” said Mick Mountz, CEO and founder of Kiva Systems. “I’m delighted that Amazon is supporting our growth so that we can provide even more valuable solutions in the coming years.”
Kiva Systems’ headquarters will remain in North Reading, Massachusetts.