IRobot Gives in to Activist Pressure [Full Statement]

February 4, 2016

Like fellow Massachusetts tech company EMC did this past fall, iRobot has now given in to the demands of activist shareholders.

Following pressure from an activist investor to rid itself of its businesses outside of home robots, Bedford-based iRobot (IRBT) on Thursday announced a deal to sell its defense and security division. IRobot plans to sell the business to Arlington Capital Partners, a Maryland-based private equity firm, for up to $45 million.

"This transaction enables iRobot to solidify its position as the leader in diversified Home Robots and focus on technologies for the connected home," iRobot, maker of the popular Roomba vacuuming robot and other home robotics, said Thursday.

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