iRobot Exits Chapter 11 After Acquisition by Picea

Reuters01-26
iRobot Exits Chapter 11 After Acquisition by Picea

iRobot Corporation has successfully completed a strategic transaction with Shenzhen PICEA Robotics Co., Ltd. and Santrum Hong Kong Co., Limited, resulting in Picea acquiring 100% of iRobot’s equity interests. The company has emerged as a privately held entity with an improved financial foundation and renewed focus on innovation in consumer robotics. As part of its restructuring, iRobot has established an independent U.S. subsidiary, iRobot Safe, to enhance data protection and governance for U.S. and global consumers. The company plans to advance its smart home robotics strategy while maintaining robust data safeguarding measures.

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