Amazon.com to Acquire Kiva Systems

Amazon.com, Inc. announces that it has reached an agreement to acquire Kiva Systems, Inc., an innovator of material handling technology.

 

“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,” says Dave Clark, vice president, global customer fulfillment, Amazon.com. “Kiva shares our passion for invention, and we look forward to supporting their continued growth.”

 

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

 

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.