Amazon.com Inc. To Buy Kiva Systems Inc. for $775 million.
The all-cash deal for closely held Kiva will close in the second quarter, Seattle-based Amazon said today in a statement. Kiva’s orange robots, which can slide under shelves and bins of products, are used by Quidsi Inc. -- the company behind Soap.com and Diapers.com that Amazon acquired for about $545 million last year.
Kiva, whose headquarters will remain in North Reading, Massachusetts, will help Amazon make shipping more efficient, the company said.
“Amazon has long used automation in its fulfillment centers, and Kiva’s technology is another way to improve productivity by bringing the products directly to employees to pick, pack and stow,” Dave Clark, vice president of global customer fulfillment at Amazon, said in the statement.
Bloomberg has the entire financial details here.
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