Amazon Acquires Kiva Systems for $775 Millions

Amazon.com Inc Monday announced that it has reached an agreement to buy Kiva Systems Inc, an innovator of material handling order fulfillment systems, for $775 million.

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, he said.

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, founded in 2003, is known for utilizing material handling technology and sophisticated control software for simplifying operations. Mobile robotic warehouse automation system is an innovative offering form Kiva.

The acquisition is expected to close in the second quarter of 2012.