Author: Mary-Louise Hoffman|| Date Published: April 4, 2016
Arlington Capital Partners has transformed the former defense and security segment of iRobot (Nasdaq: IRBT) into a new company called Endeavor Robotics following the completion of the unit’s acquisition by the Washington-based investment company.
iRobot first announced the $45 million deal early in February and said the sale will enable the Massachusetts-based robot manufacturer to focus its efforts on the consumer market.
Endeavor Robotics said Monday it aims to build and offer ground-based robotics technology for defense, public safety and industrial organizations.
Former iRobot executives Sean Bielat and Tom Frost will spearhead Endeavor Robotics as CEO and president, respectively.
Bielat noted the company aims to pursue upcoming tactical robot acquisition programs at the Defense Department.
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Arlington Capital Partners has transformed the former defense and security segment of iRobot (Nasdaq: IRBT) into a new company called Endeavor Robotics following the completion of the unit’s acquisition by the Washington-based investment company.
