Subscribe to our free, weekly email newsletter!


Amazon.com to acquire Kiva Systems

Amazon.com Inc. has announced that it has reached an agreement to acquire Kiva Systems, a developer of mobile-robotic solutions that automate eCommerce order fulfillment and warehouse operations, for $775 million.
By Staff
March 20, 2012

Amazon.com, Inc. has announced that it has reached an agreement to acquire Kiva Systems, a developer of mobile-robotic solutions that automate eCommerce order fulfillment and warehouse operations.

“Amazon has long used automation in its fulfillment centers, and Kiva’s technology is another way to improve productivity by bringing the products directly to employees to pick, pack and stow,” said Dave Clark, vice president of global customer fulfillment for Amazon.com. “Kiva shares our passion for invention, and we look forward to supporting their continued growth.”

“For the past 10 years, the Kiva team has been focused on creating innovative material handling technologies,” said Mick Mountz, CEO and founder of Kiva Systems in a statement. “I’m delighted that Amazon is supporting our growth so that we can provide even more valuable solutions in the coming years.”

Following the acquisition, Kiva Systems’ headquarters will remain in North Reading, Mass.

Under the terms of the agreement, which has been approved by Kiva’s stockholders, Amazon will acquire all of the outstanding shares of Kiva for approximately $775 million in cash, as adjusted for the assumption of options and other items. Subject to various closing conditions, the acquisition is expected to close in the second quarter of 2012.

Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

The dark side of the “Amazon effect” and larger impact made by the explosive growth in e-commerce may soon be seen when organized labor prepares of a massive air cargo strike.

During this webcast our panelist offer logistics and supply chain professionals a “reality check” when it comes to our current state of understanding, adoption, and utilization of the technological tools that are available to improve our operations.

The index ISM uses to measure non-manufacturing growth—known as the NMI—was 55.7 in April (a level of 50 or higher indicates growth), which was up 1.2 percent compared to March, with economic activity in the non-manufacturing sector growing for the 75th consecutive month.

Total gross first quarter revenue for XPO was up 404.4 percent annually to $3.5 billion, with net revenue up 510.5 percent to $1.6 billion. While gross and net revenue were up, the company reported a net loss of $23.2 million, or $0.21 per diluted share and an adjusted net loss attributable to common shareholders of $9.3 million or $0.08 per share.

Regardless of capacity, pricing, or the economy, trucking industry regulations are never far from the freight transportation limelight. That is especially evident when it comes to the federally mandated hours-of-service (HOS) regulations. As usual, the current state of HOS remains somewhat fluid. And the reason for that has to do with legislation coming from the Senate Transportation Appropriations legislation that is currently being considered by the Senate.

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2016 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA