TOKYO -- Japanese home furnishings maker Iris Ohyama will buy Smile Robotics, a robotics startup launched at the University of Tokyo, Nikkei has learned, as the company aims to make robots for corporate customers as early as 2025.
Iris Ohyama on Monday entered into an acquisition agreement with Smile Robotics. The privately held housewares manufacturer will make Smile Robotics a subsidiary by acquiring all outstanding shares of the robotics company. The value of the acquisition is likely to be around 1 billion yen ($7 million) although the figure has not been disclosed.
