iRobot Wins $28.8 Million Navy Contract
Among the $1.3 billion in Pentagon contracts awarded Friday, one tiny company won a sizable part of the funds available, when Bedford, Mass.-based iRobot was awarded a $28.8 million modification to a previously awarded contract.
The U.S. Navy gave the award to iRobot, ordering an unspecified number of Man Transportable Robotic System, or MTRS, "production systems, depot level repair parts, spare kits, depot repair services, parts supply, training, engineering enhancements, configuration management, and approved accessories."
MTRS is a small robotic vehicle modeled on iRobot's successful 510 PackBot design and is used by the U.S. Marine Corps (which orders through the Department of the Navy) in bomb disposal work, in particular for disarming roadside IEDs. iRobot is expected to deliver the ordered bots by April 2014.
The article iRobot Wins $28.8 Million Navy Contract originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends iRobot. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.