iRobot, Maker of Roomba, Files for Bankruptcy and Is Acquired by Chinese Firm
TL;DR Summary
iRobot, the maker of Roomba vacuum cleaners, filed for Chapter 11 bankruptcy protection and will be acquired by its primary manufacturer, Picea Robotics, due to increased competition, US tariffs, and financial struggles, with the company’s valuation dropping significantly from its peak in 2021.
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