We realized earlier this week that iRobot, the corporate behind Roomba, had been taken over by a Chinese language contract manufacturing firm, Picea, following years of economic struggles. The deal has led to loads of unfavorable press, however after I spoke to the corporate’s CEO, Gary Cohen, he assured me the longer term for iRobot was far brighter than the headlines would have us imagine.
It is stored a model alive. We have saved 500 jobs.
Gary Cohen, iRobot CEO
“I am feeling nice. That is excellent news for us. This units iRobot on a brand new path, a brand new starting – a reboot, as a lot of our workers have been saying,” he says. “Simply from a course of standpoint, this transaction fixes our stability sheet. It helps us out. It protects plenty of stakeholders, and for me, importantly, it is stored a model alive. We have saved 500 jobs.”
Cohen was introduced in to avoid wasting the struggling iRobot in Might 2024, following a high-profile failed acquisition by Amazon. With out a purchaser, it will have been curtains for the model that was so instrumental in shaping the robotic vacuum market. He explains that the deal means iRobot has been capable of maintain its headquarters in Bedford, Massachusetts, alongside its innovation group and worldwide groups worldwide.
Though not a extensively recognized identify, Picea Robotics isn’t any mysterious interloper, both, however an organization that iRobot has had shut dealings with over the previous yr. Cohen tells me the way it was first assigned as considered one of iRobot’s contract producers simply earlier than the Amazon deal fell by means of.
“So quick ahead to after I joined. We decided to completely do away with our legacy product traces in a single yr, and we selected Picea because the associate to do this. We nonetheless stored our innovation engine. We designed the specs that we wished to have within the market, however then Picea did extra of the engineering improvement, tooling, buying and even testing,” he remembers.
As a part of that reboot, Picea even launched some new options of its personal, which have been developed at the side of iRobot.
This is not a narrative about being taken over by a Chinese language firm. It is a story of a associate form of saving an organization.
Gary Cohen, iRobot CEO
The brand new lineup continues to be within the technique of being rolled out, and it have to be stated the brand new fashions have not been an awesome success to date. Nonetheless, Picea’s work on the mission was sufficient to persuade Cohen of Picea’s potential as a associate.
It wasn’t the primary firm to attempt to buy iRobot, however early deal makes an attempt have been derailed by US tariff turmoil within the Spring. Then, when a critical potential buyout ultimately fell aside in October, Cohen needed to discover a new technique to save the corporate.
“Chapter Seven [liquidation bankruptcy] was not one thing I actually wished to have occur. I had an excessive amount of invested within the firm and the staff, and so we went to Picea and stated, ‘Would you be enthusiastic about shopping for the corporate?’ And that is the way it materialized,” he explains.
“So this is not a narrative about being taken over by a Chinese language firm. It is a story of a associate form of saving an organization, and a associate that we now have a extremely good expertise with.”
Trying ahead
The ultimate deal is a Chapter 11 chapter, through which the struggling firm can proceed operations whereas reorganizing its funds. Beneath this settlement, Picea will “obtain 100% of the fairness pursuits within the Firm,” as described in a assertion from iRobot.
Day-to-day, Cohen explains that the deal means what have been two separate sides of the enterprise can be extra easily built-in, and insists the groups are “truly excited” on the prospect of a extra related setup.
The unique iRobot has already been growing its 2026 lineup with Picea earlier than the takeover, and the outcomes can be launching within the spring.
Collectively, we’ll be capable of put one of the best brains collectively from a technical standpoint.
Gary Cohen, iRobot CEO
Cohen tells me that Picea is a comparatively new firm, however has doubled its dimension previously three or so years, and is already a key participant involved manufacturing for robotic vacuums. He asserts that they “carry quite a bit to the celebration,” not simply in manufacturing but additionally on the technical aspect of issues.
“By partnering with them, we now have over 1,000 patents. Collectively, we’ll be capable of put one of the best brains collectively from a technical standpoint,” he says. “I take a look at them as greater than a contract producer. They have some good software program robotic scientists. We do as effectively. So by partnering with them, we’ll be capable of carry modern concepts to shoppers higher and sooner than even our rivals. They create to us a get-to-market-faster, lower-cost construction, but additionally plenty of modern concepts.”
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