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Amazon To Buy Warehousing Robotics Company Kiva For $775M

By TechTaffy Desk

[Techtaffy Newsdesk]

Amazon.com has reached an agreement to acquire Kiva Systems for $775 million. Kiva Systems provides robotic automation technology for warehousing and retailing.

Under the terms of the agreement, which has been approved by Kiva’s stockholders, Amazon will acquire all of the outstanding shares of Kiva for approximately $775 million in cash, as adjusted for the assumption of options and other items. Following the acquisition, Kiva Systems’ headquarters will remain in North Reading, Massachusetts.

“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,” said Dave Clark, vice president, global customer fulfillment, Amazon.com.

Subject to various closing conditions, the acquisition is expected to close in the second quarter of 2012.

[Image Courtesy: Kiva]

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