iRobot, a leader in consumer robots, has signed a definitive agreement to acquire privately-held Robopolis, based in Lyon, France. Following iRobot's recent acquisition of its distributor in Japan, the Robopolis acquisition will enable iRobot to capitalize on market momentum driving accelerated adoption of robots for the home. It will further enhance the company's distribution network, ensure global brand consistency and better serve the needs of European consumers while driving continued growth in Western Europe through a consistent approach to all market activities including sales, marketing, branding, channel relationships and customer service. Robopolis, an exclusive distributor of iRobot products since 2006 and the company's largest distributor in EMEA, sells across seven key markets in Western Europe, including Austria, Belgium, France, Germany, the Netherlands, Portugal and Spain. EMEA is a key strategic region for iRobot representing approximately 25% of its 2016 total revenue. Robopolis represented nearly half of iRobot's EMEA revenues in 2016.
"At this stage in the Western European market evolution, and the growth opportunity it presents, we feel a more direct go-to-market strategy is necessary to continue driving adoption of robots for the home", said Colin Angle, chairman and CEO of iRobot. "The Robopolis team has been instrumental in establishing iRobot as the leading consumer robotics brand in Western Europe. We look forward to them formally joining iRobot and working together to ensure continued growth."
Robopolis will be combined with iRobot's EMEA operations headquartered in London, UK. The existing Robopolis management team will join iRobot. Jean-Jacques Blanc, currently iRobot's vice president and general manager, Overseas, will lead the combined operations reporting to iRobot's chief operating officer Christian Cerda. iRobot will acquire the business for €130m, or approximately 0.9 times the trailing Robopolis twelve-month revenue ended June 2017, subject to customary purchase price adjustments set forth in the definitive purchase agreement. iRobot will pay cash for the acquisition. The acquisition is expected to contribute incremental revenue of approximately €23-€32m in 2017. Accordingly to this acquisition, Robopolis has been removed from ITdistri database.