Its manufacturer will transfer its activity to two Chinese companies and will delist from the stock market

The manufacturer of Roomba vacuum robots, iRobot, declared bankruptcy under Chapter 11 of the US Bankruptcy Law, and announced that it would transfer its operations to two Chinese companies and go private.

The Massachusetts-based company noted that it has entered into a restructuring agreement whereby iRobot will be acquired by its primary lender and manufacturer, Shenzhen Picea Robotics Co. and Santrum Hong Kong Co.

“Today’s announcement marks a critical step in securing iRobot’s long-term future. » Gary Cohen, CEO of iRobot, said in a statement.

According to Cohen, the transaction will strengthen its financial position and “will ensure continuity for its consumers, customers and partners.”

Under the terms of the bankruptcy agreement, iRobot will continue to operate with no planned interruptions to its customers.