Amazon to buy Kiva Systems for $775 Million

Amazon to buy Kiva Systems for $775 Million:






Monday afternoon Amazon and Kiva Systems announced that the companies had reached an agreement whereby Amazon will acquire Kiva Systems for approximately $775 Million in cash, with the deal expected to close next quarter. Kiva Systems produces robotic material handling equipment that brings warehouse inventory to the people who fill orders rather than making them walk the warehouse to find it, as depicted in the above video. Amazon's own warehouse operations have been rapidly expanding, and the company is expected to make good use of Kiva's technology in-house, as well as continuing to offer it to others.