Monday, March 19, 2012

Amazon.com Buys Kiva Systems

Seattle-based Amazon.com said this afternoon that it has acuqired Kiva Systems, a developer of robotic material handling technology. Amazon said it will pay approximately $775M in cash for Kiva, which is based in North Reading, Mass. Kiva said it will use Kiva's products as part of its fulfillment centers. Kiva's products are used to automate the handling of products in warehouses, using robotic devices to pick, pack, and fill orders. Kiva was venture backed by Bain Capital Ventures and Meakem Becker Venture Capital.