The iconic Roomba changes hands after its manufacturer, iRobot Corporation, declared bankruptcy. The American company announced a restructuring agreement by which 100% of the shares will become the property of Shenzhen Spruce Robotics and … the branch of this Santrum Hong Kong. Thus, the emblematic brand of robot vacuum cleaners will now be owned by a Chinese group.
As part of this restructuring process, which involves a complete change of ownership, iRobot declared bankruptcy along with several subsidiaries under the protection of the Chapter 11 of the US Bankruptcy Law. The company plans to complete the regulatory process by February 2026. “This agreement represents a fundamental step in strengthening iRobot’s financial foundation and positioning the company for long-term growth and innovation,” the vacuum cleaner company said in a statement.
Picea will receive the 100% of the capital. This will allow the Roomba manufacturer to reduce its debt, since it will be assumed by the buyer, and to continue to operate normally, that is to say without having to interrupt its activity. “The proposed transaction paves the way to improve financial stability, reduce debt and support continued innovation in iRobot’s leading portfolio of robotics and smart home devices,” they noted.
To maintain business continuity, iRobot has filed a series of customary court motions that will allow the company to continue operating, including meeting its commitments to employees and making timely, full payments to suppliers and other creditors for amounts owed before, during and after the court-supervised process.
The company assures that with this decision it will be able to continue to operate normally and fulfill its obligations.
“Today’s announcement marks a critical step in securing iRobot’s long-term future,” said iRobot CEO Gary Cohen. “The transaction will strengthen our financial position and help ensure continuity for our consumers, customers and partners. Together, we will continue to power the Roomba robots and cutting-edge smart home technologies that have defined the iRobot brand for more than three decades. By combining the innovation of iRobot“With its consumer-focused design and R&D, as well as Picea’s track record of innovation, manufacturing and technical expertise, we believe iRobot will be well-positioned to shape the next era of smart home robotics,” he added.
Will stop trading on the stock exchange
As noted, iRobot hopes to “be better positioned to execute its long-term innovation strategy under Picea ownership.” Thus, by February 2026, the company will pass into Chinese hands and this operation will also imply that the American manufacturer will cease to be listed on the stock exchange; To date it is listed in the American Nasdaq. “The transaction is designed to provide a stronger balance sheet and renewed ability to invest in the next generation of robotics, smart home innovations and improved customer experiences,” they added.
Likewise, declaring bankruptcy and proposing the restructuring plan in favor of Picea has implications for its current shareholders. The company announced that all common shareholders will no longer be shareholders of the company and will not receive any money in exchange: “Therefore, ordinary shareholders will suffer a total loss and they will not receive any recovery of their investment if the plan is approved by the court.
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