Online books retailer Amazon.com, Inc., US, has announced an agreement to acquire Kiva Systems, Inc., an innovator of material handling technology.
Under the terms of the agreement, which has been approved by Kiva's stockholders, Amazon will acquire all of the outstanding shares of Kiva for about $775 million in cash, as adjusted for the assumption of options and other items. Subject to various closing conditions, the acquisition is expected to close in the second quarter of 2012.
Following the acquisition, Kiva Systems' headquarters will remain in North Reading, Massachusetts.
