Earlier this week we learned that iRobot. The company behind the Roomba. Was acquired by a Chinese contract manufacturing company. Picea. After years of financial trouble. The deal attracted a lot of negative press. When I spoke with the company’s CEO. Gary Cohen. He assured me that iRobot’s future was much brighter than the headlines suggested.
“I’m fine. It’s good news for us. It puts iRobot on a new path, a new beginning, a new beginning, as many of our employees have said,” he says. “From a purely procedural perspective, this transaction improves our bottom line. It helps us. It protects many stakeholders and, most importantly to me, it keeps a brand alive. We saved 500 jobs.”
Cohen was hired in May 2024 to rescue troubled iRobot after a high-profile failed takeover by Amazon. Without a buyer, the brand that shaped the robot vacuum cleaner market had disappeared from the scene. It says the deal means iRobot can keep its headquarters in Bedford. Mass. As well as its innovation team. International teams around the world.
While Picea Robotics isn’t a household name. It’s not a mysterious intruder either. Rather a company that iRobot has had close ties with over the past year. Cohen tells me how the company was first hired as a contract manufacturer for iRobot shortly before the Amazon deal fell through.
“Soon after my arrival. We decided to completely remove our existing product lines within a year. Chose Picea as our partner.
As part of this reboot. Also introduced some new features is has by Picea. Developed in collaboration with iRobot.
The new product range is still being launched. Clear that the new models are not yet a huge success. is is by it. However. Picea’s work on the project was enough to convince Cohen of Picea’s potential as a partner.
It wasn’t the first company to try to acquire iRobot.
Early attempts at a deal were derailed by a customs row in the US this spring. When a serious takeover plan failed in October, Cohen had to find a new way to save the company.
‘Chapter Seven (bankruptcy liquidated) It wasn’t something I really wanted. He had invested too much in the company. The employees. So we went to Picea. Asked. “Would you be interested in buying the company?” And that’s how it turned out. He explains.
“So it’s not the story of an acquisition of a Chinese company. It’s the story of a partner saving a company. A partner that we had a great experience with.”
I can’t wait
The latest deal is a Chapter 11 bankruptcy. Where the troubled company can continue operating by reorganizing its finances. Under the terms of the deal. Picea will receive “a 100% stake in the company. ” as described in a paragraph.
Cohen explains to the daily that the deal will allow for a more seamless integration of previously separate parts of the business. Noting that the teams are “very excited” about the prospect of a more interconnected structure.
The original iRobot was already working with Picea to develop its 2026 range before the acquisition. The results are expected to hit the market this spring.
Cohen says that Picea is a relatively new company. Has doubled in size in the past three years. Is already a major player in the robotic vacuum cleaner space. According to him.
They “bring a lot to the party”. Not only from a productive point of view. Also from a technical point of view.
“Thanks to our partnership with them. More than 1 is have by we. 000 patents. Together, we will be able to bring together the best minds from a technical perspective,” he says.
“I see them as more than just a contract manufacturer. Brilliant software robotics researchers. is have by They. We. is do by So. By working with them, we can bring innovative ideas to consumers better and faster than our competitors. They give us a faster time-to-market structure and lower costs, but also a lot of innovative ideas.”
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