Neato Robotics scooped up by Vorwerk Group
German appliance maker Vorwerk buys robot vacuum builder Neato.
Robot vacuum company Neato has just been bought by the Vorwerk Group, a German manufacturer of household products, the companies announced today. Neato will operate within the Vorwerk as a "wholly owned independent business unit" with no leadership changes, according to a media release. Neither Neato nor its new parent firm Vorwerk have disclosed a specific dollar amount for the deal.
Vorwerk's history with Neato Robotics isn't new. The company first claimed a stake in Neato back in 2010. With this latest move, Vorwerk has completely acquired Neato outright and fully owns its business and technology, which could help the international operation expand into the growing robotic vacuum industry.
Vorwerk, a family-owned company based in Wuppertal, Germany, has been in operation for over 130 years. It began as a carpet factory, and later branched out into marketing other household products, including upright vacuum cleaners . Vorwerk also owns Thermomix, a purveyor of countertop multicookers.
Neato's know how is certainly valuable to Vorwerk. We loved the company's current flagship robot vacuum cleaner, the Botvac Connected, which earned our Editors' Choice award in 2015. The upcoming replacement, the Botvac D7 Connected, looks even better. Neato says the machine will feature enhanced digital mapping, and allow you to add restricted areas and rooms within the robot's mobile app.
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