Thursday, February 4, 2016

iRobots (IRBT) Sells Its Defense Business

iRobot (IRBT) press release on 02016.02.04: "iRobot Announces Sale of Defense & Security Business to Arlington Capital Partners". I'm a bit bummed with this because it seems robotic soldiers/devices is the future of war.

iRobot also announced that it will "expand its current share repurchase initiative by $65 million, including the expected proceeds from the transaction, bringing the total 2016 program to more than $100 million."

IRBT closed yesterday (02016.02.03) at $32.43. 52-week range: $27.55 - $37.71.

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