Tuesday, June 10, 2008

IRobot dives into robotic sub market with Seaglider deal

By Mass High Tech Staff

IRobot Corp. reports reaching a license agreement with the University of Washington to commercialize underwater vehicle technology developed at the university.

The vehicles, called Seagliders, are designed to enable civilian, academic and military personnel complete oceanographic measurements. The Office of Naval Research funded the initial research and development behind Seaglider technology in 1995. More than 70 Seagliders have been delivered to date and are used in Naval operations around the world, according to iRobot officials.

Financial terms of the deal were not disclosed.

The U.S. Navy is currently testing the vehicle for additional applications, company officials said.

Bedford-based iRobot (Nasdaq: IRBT) made the announcement at the Association for Unmanned Vehicles International’s conference in San Diego, Calif.

Founded in 1990 by MIT robotics researchers, iRobot employs about 370 workers. During 2007, the company posted net income of $9.1 million on revenue of $249.1 million.