Amazon to buy Kiva Systems for $775 million
Seattle -- Amazon.com on Monday announced it has agreed to buy Kiva Systems Inc. for $775 million in cash. Kiva is a manufacturer of automation technology for fulfillment centers, and is best known for its mobile- robotic technology and sophisticated control software. Kiva's retail customers include The Gap, Staples, Saks 5th Avenue, Office Depot, Crate and Barrel and Walgreens.
“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, VP global customer fulfillment, Amazon.com. “Kiva shares our passion for invention, and we look forward to supporting their continued growth.”
The acquisition, which has been approved by Kiva's stockholders, is expected to close in the second quarter of 2012. Following the acquisition, Kiva headquarters will remain in North Reading, Mass.