Arlington Capital Partners has transformedÂ the former defense and security segmentÂ of iRobotÂ (Nasdaq: IRBT) into a new company called Endeavor Robotics following the completion of the unit’s acquisition by theÂ Washington-based investment company.
iRobot firstÂ announced the $45 million dealÂ early in February and said the sale will enable the Massachusetts-basedÂ robotÂ manufacturerÂ to focus its efforts on the consumer market.
Endeavor Robotics said Monday itÂ aims to build and offer ground-based robotics technology for defense, public safety and industrialÂ organizations.
Former iRobot executives Sean Bielat and Tom Frost will spearhead Endeavor RoboticsÂ as CEO and president, respectively.
Bielat noted the company aimsÂ to pursue upcomingÂ tacticalÂ robot acquisition programs at the Defense Department.