In 2010, ER launched Mint, an automatic floor cleaning robot designed exclusively for hard surface floors, which offers a different approach to cleaning than iRobot’s current products."
In addition, Paolo Pirjanian, CEO of Evolution Robotics, is becoming iRobot's Chief Technology Officer.
From my backseat driver perspective, this seems like a good move for iRobot.
IRBT closed on 02012.09.17 at $26.01. 52-week range: $19.09 - $38.33.
iRobot (IRBT) fell 2% today, so Wall Street wasn't overjoyed with iRobot's acquisition of Evolution Robotics. I liked the following quote by iRobot CEO Colin Angle. "o Evolution has 31 U.S. patents, 24 pending, and 15 international patents with 18 pending. From a numeric basis, the patents that we are – think are most valuable has to do with some pretty fundamental work in Visual Simultaneous Localization and Mapping or VSLM. They we early pioneers in the development and reduction to practice of this type of technology, which we believe is emerging as the most compelling methodology for low cost navigation for robots of all scales, both indoor and outdoor. So this is some really important stuff and as they – we combine the acquisition of that IP with the organically developed IP at iRobot. And the IP that we licensed from InTouch last year and from remote presence to navigation, we’ve got a very powerful IP portfolio which will matter in creeping in an increasing fashion, as the industry continues to grow in economic power and value."
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