Retail in Asia

In Shops

Amazon.com to buy Kiva Systems for USD775m

Amazon.com Inc said on Monday it agreed to buy Kiva Systems Inc for USD775 million in cash, a deal that will bring more robotic technology to the e-commerce company’s giant network of warehouses.

The acquisition, which has been approved by Kiva’s stockholders, is expected to close in the second quarter of 2012, Amazon added in a statement.

Kiva develops robots that zip around warehouses, grabbing and moving shelves and crates full of products. The technology helps retailers fulfil online orders quickly and with fewer workers. Companies including Gap Inc, Staples Inc and Crate & Barrel, have used the technology.