Company Emerges from Chapter 11 as a Stronger, Boston-Based Consumer
Robotics Leader
Establishes Independent U.S. Subsidiary, iRobot Safe, Focused on Data
Protection and Governance
BEDFORD, Mass., Jan. 23, 2026 /PRNewswire/ -- iRobot Corporation
("iRobot" or the "Company"), a leader in consumer robots, today
announced the successful completion of its previously announced
strategic transaction with Shenzhen PICEA Robotics Co., Ltd. and Santrum
Hong Kong Co., Limited (collectively "Picea"), through which Picea has
acquired 100% of the equity interests in iRobot. The closing of the
transaction marks the Company's emergence from the pre-packaged chapter
11 process with an improved financial foundation and additional capacity
to invest in the next generation of smart home robotics.
Picea has had a long-standing relationship with iRobot, serving as the
Company's primary contract manufacturer and secured lender. During the
restructuring process, Picea provided critical liquidity and operational
support, helping ensure continuity for customers, employees, suppliers,
and global partners.
"It has been a privilege to lead iRobot through this pivotal period, and
I'm incredibly proud of the team's resilience, focus, and commitment to
our customers," said Gary Cohen, Chief Executive Officer, iRobot.
"Building on iRobot's strong foundation, I look forward to working with
the Picea leadership team as we enter our next chapter with renewed
momentum. My conviction in iRobot has never been stronger, and together
with Picea, we are focused on delivering reliable, high-quality products,
supporting our customers, protecting consumer data, and operating with
discipline as we move forward."
Enhanced Data Governance Efforts
As part of its restructuring plan, iRobot has implemented a series of
structural, legal, and governance safeguards specifically designed to
protect U.S. and other global consumer data and connected devices. These
measures include the creation of a separate, US-based subsidiary
("iRobot Safe Corporation" or "iRobot Safe") responsible for the
protection of U.S. consumer data.
iRobot Safe as well as other iRobot controls are designed to maintain a
clear separation between iRobot's non-U.S. ownership and its U.S. and
other global consumer data. iRobot Safe will be governed by an
independent board composed of U.S. citizens and will include an
independent US-based Data Security Officer with data protection
authority and an iRobot Safe Chief Executive Officer, each subject to
strict eligibility requirements. This structure and other controls are
intended to provide regulators, consumers, and partners with confidence
that iRobot's data governance framework is designed to protect U.S. and
other global consumer data remains transparent, enforceable, and
effective following the transaction.
Post-Emergence
iRobot will continue to be a US-based global consumer robotics company,
maintaining its Bedford, Massachusetts headquarters with engineering,
product development, marketing, and other corporate functions anchored
in the United States.
Following the transaction, iRobot is now a privately held company wholly
owned by Picea. With the restructuring complete, iRobot will advance its
long-term innovation strategy, focused on delivering trusted robotics
and smart home devices, enhancing customer experiences, and investing in
future product development all while utilizing data protection measures
designed to protect U.S. and other global consumer data.
Advisors
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as lead legal
counsel, Young Conaway Stargatt & Taylor, LLP served as Delaware counsel,
Alvarez & Marsal served as investment banker and financial advisor, and
C Street Advisory Group served as strategic communications advisor.
White & Case LLP served as legal counsel to Picea.
About Picea
Picea is a global manufacturer and service provider of robotic vacuum
cleaners, with research and development and manufacturing facilities in
China and Vietnam. Picea has over 7,000 employees globally and serves a
diverse, international customer base. Picea maintains long-term, stable
partnerships with many leading global enterprises. To date, Picea holds
over 1,300 intellectual property rights worldwide and has manufactured
and sold more than 20 million robotic vacuum cleaners.
About iRobot
iRobot is a global consumer robot company that designs and builds
thoughtful robots and intelligent home innovations that make life
better. iRobot introduced the first Roomba robot vacuum in 2002. Today,
iRobot is a global enterprise that has sold millions of robots
worldwide. iRobot's product portfolio features technologies and advanced
concepts in cleaning, mapping and navigation. Working from this
portfolio, iRobot engineers are building robots and smart home devices
to help consumers make their homes easier to maintain and healthier
places to live. For more information about iRobot, please visit
www.irobot.com.
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SOURCE iRobot Corporation
(END) Dow Jones Newswires
January 23, 2026 09:43 ET (14:43 GMT)
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