On Monday, iRobot (IRBT) announced a deal to purchase Evolution Robotics, Inc. for $74M. The company looks for this deal to expand iRobot's technology leadership through a combination of intellectual property, engineering talent and new products.
iRobot has been a leader in delivering robotic technology-based solutions for both consumer and defense sectors. Evolution brings the Mint product line that automatically dusts and damp mops hard surface floors using popular cleaning cloths.
The stock is trading down again on Wednesday as investors fret over the short-term earnings hit instead of the long-term benefits of the new products and technology.
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