iRobot has sold off its defense and security business.
Arlington Capital Partners acquired the division for a sale price of up to $45 million, including a contingency payment for certain milestones, according to an iRobot announcement.
“The divestiture of the Defense & Security business will allow us to focus on the home robots business, bring new products to market, continue our expansion in China and build upon successful new marketing campaigns,” said iRobot CEO Colin Angle. “We are confident that our strategy of focusing on the home will position iRobot for continued growth and success.”
