Amazon.com Buys Kiva Systems For $775 Million
Amazon.com has acquired order fulfillment company Kiva Systems for $775 million in cash. Kiva Systems has designed hardware and software to streamline the process of picking, packing, and shipping e-commerce products. The company uses hundreds of robots to perform numerous tasks.
“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,” stated Amazon.com vice president of global customer fulfillment Dave Clark. “Kiva shares our passion for invention, and we look forward to supporting their continued growth.”
Kiva’s headquarters will remain in North Reading, Massachusetts. The acquisition is expected to close in Q2 of 2012.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry