Neato Robotics Acquired by Vorwerk Group
Neato Robotics has just been acquired by the German Vorwerk Group, at an undisclosed price.
Neato Robotics has been synonymous with robotic vacuum cleaners and other automated home appliances since 2005.
Vorwerk Group has had a long association with Neato Robotics, investing first in Neato Robotics in 2010.
What to expect?
With this acquisition, Neato is scheduled to work under the aegis of Vorwerk Group as an independent unit. It is also scheduled to retain its own corporate culture. As such, there is no news as to change in authority or everyday functioning. In the past, Vorwerk has been responsible for getting Neato’s products to Italy and Germany, albeit under other brand names.
Neato Robotics has been widely acclaimed for its workplace ethics and cultures and was featured in a list of top 100 workplaces – attained on the basis of employee feedback. Neato has another German connection – its product Botvac D7 Connected won an IFA in Berlin earlier in 2017.
About the Companies
Vorwerk Group itself is an old player on its field. Its foundation was set in 1883 and has been an important player in the field of production and sale of ingenious home appliances throughout all this time.
Neato Robotics, on the other hand, has had an exceptional technological expertise and has made good breakthroughs in trying to make home appliances self-driven and automatic.
Laser navigation, better technologies employed for the purpose of household cleaning, and smart connectivity within the home are results that that Neato Robotics has always managed to deliver, with stellar results.
What’s in it For Neato Robotics?
As stated in the press release by Giacomo Marini, Chairman and CEO of Neato Robotics, the company hopes to gain better access to the wide reach in the market that Vorwerk Group has.
He also said that Neato has often worked well with Vorwerk’s participation in the past and that he hopes this new working arrangement will continue to benefit the two companies in the future.
Along with this, he believes that with Neato doing well at the IFA in Berlin in 2017 and the added benefit of now being a high-functioning subsidiary of Vorwerk, phenomenal growth prospects are expected. As to how much of that does happen, is something most investors would now be looking forward to eagerly.
How Does Vorwerk Stand to Benefit?
The Managing Partners also appraised the acquisition saying that Vorwerk is looking forward to hugely benefit from the leading innovation and technology that is associated with Neato.
Neato’s intelligent software, they believe, is a great addition to Vorwerk’s central proficiency unit of self-driven robotic vacuum cleaners specially designed for household purposes.
With this well-publicized acquisition in place, Neato and Vorwerk are in a better position to beat the competition with companies like iRobot, maker of the popular Roomba vacuums.
With Neato’s technology and Vorwerk’s incredible market outreach, things are expected to change. Additionally, Neato also gets to focus on its own U.S oriented products.
Feature Image Credit: Neato Robotics