Amazon.com Inc. is hiring the founders of robot-software maker Covariant, in a move known as an “acquihire” that is aimed at helping the e-commerce leader boost its warehouse automation.
Amazon said in a blogpost on Friday that it will absorb executives and about a quarter of the staff from Covariant. People with knowledge of the matter earlier said that Amazon was purchasing the company.
Amazon declined to comment on the specifics of the takeover. Covariant didn’t respond to a request for comment.
Amazon has been a leader in warehouse automation since its 2012 acquisition of Kiva Systems, which makes robots that roam vast warehouses, fetching products and helping fulfill online orders more swiftly. Covariant’s customers include online retailer Otto Group, logistics firm Radial and pharmaceutical distributor McKesson Corp., which use the company’s software in warehouses, according to its website.
Bloomberg was first to report that Covariant received recent takeover interest from Amazon.
Through the agreement announced on Friday, Amazon is also receiving a non-exclusive license to Covariant’s robotic foundation models.
https://finance.yahoo.com/news/amazon-hire-covariant-founders-expand-034917403.html
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