La Honda Advisors is pleased to announce that our client, Neato Robotics Inc. (“Neato Robotics”), an innovator and leader in the robotic vacuum industry, has been acquired by Vorwerk Group. La Honda Advisors acted as sole financial advisor to Neato Robotics in this transaction.
The Vorwerk Group first invested in Neato Robotics in 2010. With this acquisition, the German family-owned enterprise enhances its strategic position on the emerging global market for home robot vacuums. Neato will operate within the Vorwerk Group as a wholly-owned independent business unit, with its own brand identity and corporate culture. There will be no changes to leadership or daily operations.
About Neato Robotics
Neato Robotics designs robots for the home to improve people’s lives, allowing them to spend less time doing household chores and more time on the things they love. Neato drives innovation with intelligent laser navigation, mapping, smart home connectivity, and superior cleaning technologies. Neato was recently recognized for its leadership, culture and dedication to its employees by being named to the Bay Area News Group’s 2017 list of the “Top 100 Workplaces” in the San Francisco area based on employee feedback. Neato was most recently awarded the ‘Best Smart Home & Appliances’ for its Botvac D7 Connected at IFA 2017 in Berlin. Learn more at www.neatorobotics.com.