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ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Roundtable

Financial Services Companies Heat Up M&A Market
Speakers from Flexpoint Ford, Genstar Capital, Baird Capital, Madison Capital Funding and Katten Muchin Rosenman discuss the various factors playing a role in M&A activity within the financial services space

Expert's Corner

Pursuing Pharma Manufacturing
The fragmented pharmaceutical manufacturing industry provides plenty of opportunities for private equity investors, says JLL Partners founder Paul Levy

Today's Transactions
IRobot Acquires Evolution Robotics for $74M

Both companies specialize in robotic floor-cleaning products

IRobot (Nasdaq: IRBT), which makes the Roomba vacuum cleaner, will acquire Evolution Robotics for $74 million in cash.

Evolution Robotics, based in Pasadena, Calif., makes the Mint Automatic Floor Cleaner, which specializes in cleaning hard floors, including those made of wood, tile, vinyl and laminate.

The acquirer hopes the deal will give it a broader consumer base in Europe and Asia, where hard floors are common.

In 2011, Bedford, Mass.-based IRobot generated more than $465 million in revenue and employed more than 600 professionals.

IRobot expects the deal to contribute between $4 million and $6 million more in revenue for 2012, and between $22 million and $24 million more in revenue for 2013.

Evolution’s chief executive, Paolo Pirjanian, will join IRobot as chief technology officer.

The deal was announced late Sept. 17. 

 

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