Shenzhen-based Picea Robotics, its lender and primary supplier, will acquire all of iRobot’s shares.
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Isn’t the real problem here that many companies aim to be bought out as a strategy? They focus on growth to secure a sizeable market share. They often do this without regard for sustaining the business. Equity holders like this because market share inflates company value and selling the company will yield even more money. The downside is though, that at some point, the company can no longer sustain this and must be bought out.
I don’t think irobot really needed to go this route or that they weren’t competitive any longer. They chose to go for market share and big bucks rather than a long term strategy.
This is why we need more cooperatives. They are better at long term planning, make better products and don’t fall prey to predatory value extractionYet another example that the firms that actually make the things are the ones that matter in the long run.
Apparently Picea makes Roomba, Shark, Anker (Eufy). Maybe also some Dyson.
Ever heard of a little known design shop called Nvidia that outsources production to other companies?
Hmm… counterpoint: Arm Holdings
There are counterexamples for sure but there are whole indistries that fell over to this pattern. E.g. TVs.
Great now everyone who has one will suddenly become bricked.
Unlikely. Their ODM bought them. Our home maps would however become part of their property. While I’m not happy about it, I think I prefer that than Amazon having it tbh.
