Picea Robotics Acquires iRobot in Chapter 11 Bankruptcy Deal
iRobot, the company behind the popular Roomba robot vacuum, has filed for Chapter 11 bankruptcy and will be acquired by its contract manufacturer, Picea Robotics. The Chinese-based company will take over iRobot’s $190 million loan and waive the debt as part of the restructuring. This acquisition marks a significant shift in the robotics industry landscape.
