A team of Goodwin attorneys advised longtime client iRobot Corporation (Nasdaq: IRBT) on the $74 million acquisition of Evolution Robotics, Inc., in a deal that closed Oct. 1.
iRobot designs and builds robots for consumer and military use, including floor cleaners and security robots, which use navigation, mobility, manipulation and artificial intelligence technology. Evolution Robotics, Inc. has a flagship line of floor cleaning products marketed and sold primarily under the Mint brand name. Evolution Robotics also partners with original equipment manufacturers to integrate those technologies into new and more intelligent products.
Goodwin attorneys, including Mark Bettencourt, a partner in Goodwin’s Technology Companies, Corporate and Private Equity Groups and Chair of Goodwin’s Business Law Department, have represented iRobot since 2002. Goodwin represented iRobot in its 2005 initial public offering and its prior acquisitions.
“We are extremely gratified to partner with iRobot in pursuit of its business objective to be the leader in delivering robotic technology-based solutions,” said Bettencourt. “The acquisition of Evolution Robotics adds substantial depth to iRobot’s innovative products and technological capabilities, immediately growing and diversifying its consumer product line and expanding into a new adjacent category.”