Robot maker iRobot Corporation (IRBT) recently launched the video collaboration robot Ava 500 in the U.S., Canada and certain European markets. The self-driven robot is easy to use and allows users a complete freedom of movement. The robot reduces the cost and time associated with long travels for a meeting and offers remote management in a collaborative work environment.
The robot is a mixture of iRobot’s autonomous mobile robotics platform and Cisco Systems, Inc.’s (CSCO) telepresence solutions. In the coming quarters, iRobot plans to introduce the robot worldwide. Ava 500 boasts various applications including manufacturing, data center, call centers, corporate training, laboratories and clean rooms, supply chain or logistics and customer experience centers.
It is believed that the merger of Cisco TelePresence and iRobot’s autonomous mobility will bring about a new phase in the growth of collaboration industry.
iRobot has been steadily launching products to increase its footprint in the market. In January this year, the company launched a newer version of its existing floor cleaning robot, Scooba. The Scooba 450 was launched in North America on Jan 7. Boasting three-cycle cleaning process, Scooba 450 is three times more efficient than the existing models.
Bedford, MA-based iRobot is one of the leading manufacturers of robots worldwide. The company is a leading player in the domestic market and also has a significant presence in the commercial field.
iRobot currently has a Zacks Rank #4 (Sell). Some better-ranked stocks in the industry include Rockwell Automation Inc. (ROK) and Lincoln Electric Holdings Inc. (LECO). Both the stocks have a Zacks Rank #2 (Buy).