Amazon buys robot maker

Article Excerpt

AMAZON.COM $191.07 (Nasdaq symbol AMZN; TSINetwork Rating: Extra Risk) (206-266-1000; www.amazon.com; Shares outstanding: 455.1 million; Market cap: $87.0 billion; No dividends paid) has agreed to buy Kiva Systems for $775 million. Kiva makes small orange robots that help manage warehouse inventory. Amazon’s shipping volumes continue to rise. In response, the company plans to add 17 more warehouses, bringing its total to 69. The Kiva purchase will let Amazon better control its labour costs. Amazon can also sell the robots to other retailers. Kiva’s clients already include the Gap, Staples and Saks. Amazon.com is still a hold. hold…