Chinese contract manufacturer Picea Robotics has agreed to acquire iRobot, the world’s largest robot vacuum maker and owner of the Roomba brand, after the company filed for bankruptcy amid intensifying competition from Chinese rivals.

iRobot announced that it had signed a restructuring support agreement with its secured lender and primary contract manufacturer Picea. Under the terms, Picea will convert its debt claims into 100% equity in iRobot through a court-supervised process.

The Massachusetts-based company filed for pre-packaged Chapter 11 bankruptcy in Delaware, with plans to complete the restructuring by February 2026. The process is intended to reduce debt, maintain normal operations, continue product development, and preserve iRobot’s global business.

iRobot CEO Gary Cohen said the deal would strengthen the company’s financial position. “By combining iRobot’s innovation, consumer-driven design, and research and development with Picea’s history of innovation, manufacturing, and technical expertise, we believe iRobot will be well-equipped to shape the next era of smart home robotics,” Cohen said.