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Roomba maker iRobot announces bankruptcy — brand will live on under ownership of former supplier [Yahoo! Finance]

The Carlyle Group Inc. (CG) 
Last the carlyle group inc. earnings: 4/30 06:40 am Check Earnings Report
US:NASDAQ Investor Relations: ir.carlyle.com
Company Research Source: Yahoo! Finance
In a somewhat unsurprising turn of events for anyone who's been following the robot vacuum market, iRobot, the maker of the Roomba, has announced bankruptcy and was sucked up by its former main supplier, Picea Group. According to a Bloomberg report, Picea had already bought up iRobot's $190 million debt from Carlyle Group Inc, and now owns the marque. The story leading up to the bankruptcy and buyout is a sad tale of a company losing its edge and then being repeatedly kicked when it was down. Roomba is a reference name in U.S. and European households, and iRobot held the lion's share of those markets for a good long while — 80 to 90% in the U.S. in the tail end of the past decade. Probably in part because of this near-monopoly, iRobot apparently slowed down innovation and got complacent, content with the sales figures coming in. But trouble was brewing half a world away, as Chinese robotics companies were kickstarting their engines and revving into high gear. iRobot lost ground Show less Read more
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