Amazon.com is Buying North Reading Business for $775 Million
Kiva Systems, which is based on Riverpark Drive, manufactures robots in its North Reading facility.
Internet giant Amazon.com is buying North Reading’s Kiva Systems Inc., for $775 million.
Kiva Systems, which is based on Riverpark Drive near Concord Street and Route 93, develops mobile-robotic solutions that automatically fill eCommerce orders for companies like Staples and Boston Scientific. With about 120,000 square feet of space for engineering, Kiva Systems manufactures the robots on site.
"Amazon 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," said Dave Clark, vice president, global customer fulfillment, Amazon.com. "Kiva shares our passion for invention, and we look forward to supporting their continued growth."
"For the past ten years, the Kiva team has been focused on creating innovative material handling technologies," said Mick Mountz, CEO and founder of Kiva Systems. "I'm delighted that Amazon is supporting our growth so that we can provide even more valuable solutions in the coming years."
Kiva’s headquarters will remain in North Reading, according to Amazon.
Gov. Deval Patrick went on a tour of Kiva Systems last September. Mountz and VP of Manufacturing Bob Doucette led Patrick through their offices and warehouse.
Also, last year, Kiva received $82,640 in grant money from the state to support up to two years of training.
The purchase of Kiva Systems, which was reportedly all cash, is Amazon’s biggest acquition since its purchase of Zappos.com in 2009, according to Bloomberg.