Seattle—March 19, 2012—Amazon.com Inc. has reached an agreement to acquire Kiva Systems Inc., North Reading , Mass., a provider of automated material handling order fulfillment services and 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,” said Dave Clark, Vice President, Global Customer Fulfillment, Amazon.com. “Kiva shares our passion for invention, and we look forward to supporting their continued growth.”
Under the terms of the agreement—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.
“For the past ten years, the Kiva team has been focused on creating innovative material handling technologies,” said Mick Mountz, Chief Executive Officer and Founder of Kiva Systems. “I’m delighted that Amazon is supporting our growth so that we can provide even more valuable solutions in the coming years.”