iRobot agrees to buy small underwater robot firm

Bedford's iRobot Corp., which makes household and military robots, said today it has agreed to buy Nekton Research LLC, an unmanned underwater robot and technology company based in North Carolina.

Terms of the merger agreement include a cash payment of $10 million with the potential for additional consideration of up to $5 million, based on the achievement of certain business and financial milestones, iRobot said, and the impact of the transaction on iRobot's revenue will be "minimal" in 2008; in 2009, the anticipated product and contract revenue will be $6 million to $8 million.

(Images with this story were taken from Nekton's website; the images show some of the firm's underwater robots.)

IRobot said in a press release: "Nekton has been instrumental in shaping the underwater marketplace during the past six years by supporting customers such as the Office of Naval Research, Naval Undersea Warfare Command, the Naval Air Systems Command, and the US Special Operations Command."

"We believe that the underwater market is the next frontier for robots," Helen Greiner, cofounder and chairman of iRobot, said in a statement. "This acquisition positions us for leadership in robot solutions on both the land and sea."

Some of Nekton's product line will complement the Seaglider robot that iRobot has licensed from the University of Washington, iRobot noted.

The transaction is expected to close by September 12, iRobot said.
(By Chris Reidy, Globe staff)