Amazon.com (NASDAQ:AMZN) has agreed to buy Kiva Systems for $775 million.

Amazon.com Buying Robot Company In $775m Deal

The online giant Amazon.com (NASDAQ:AMZN) has acquired robot maker Kiva Systems for $775 million, in its second biggest takeover deal.

The company will use robots developed by Kiva to use in its fulfillment centers to pick items from shelves.

The company expects to close the deal in the second quarter.

Dave Clark, vice president of global customer fulfillment at Amazon.com (NASDAQ:AMZN), said, “Amazon.com (NASDAQ:AMZN) 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”.

Amazon.com (NASDAQ:AMZN) shares are currently standing at 185.52.

Price History
Last Price: 185.52
52 Week Low / High: 160.82 / 246.71
50 Day Moving Average: 184.26
6 Month Price Change %: -23.2%
12 Month Price Change %: 14.7%