Robotics company and maker of the Roomba, iRobot, acquired children's education-focused Root Robotics. We take a look at the lackluster financing and market trends for the kids educational consumer robotics industry, and what this means for potential acquirers.
On June 20, iRobot announced it had acquired Root Robotics, a startup focused on the production of children’s education-based robotics. The acquisition is iRobot’s first since 2017 — though financial terms were undisclosed, and the company does not expect Root Robotics to materially contribute to its financial performance.
We take a look at the Root Robotics transaction to understand:
- Big takeaways
- Why now
- Why this matters