Corporate Development In Robotics With Anders Bialek Of iRobot

The Uncovered Podcast

Episode Summary:
Our first guest of Season 2 is Anders Bialek who talks to us about his role as VP of Strategy & Corporate Development at iRobot. Tune in as Rob uncovers more about the ins and outs of working within corporate development as well as the strategies & secrets for both founders and corporate development teams to know ahead of a M&A.

What is Uncovered:

• How Anders got started within corporate development at iRobot & the common tracks folks take towards this career
• How the team is structured at iRobot and what the day to day may look like for someone working within corporate development.
• The benefits of having M&A & strategy teams work in tandem under corporate development
• The importance of being proactive, clear on strategy with M&A teams and effectively communicating with bankers on what you are looking for in terms of deals
• How the process of corp dev works specifically at iRobot & why establishing relationships and conversations early on is the best strategy for both parties
• Common things that cause deals to fall apart - from both the buyer and seller side
• Misconceptions on how M&A work and how the press can influence this misperception
• As a founder, to understand your valuation, control, and the expectations of your board members which can all have a profound impact on the M&A process
• Trends Anders is seeing within the consumer robotic space
• Is there a right time to sell?
• Why you should hire an advisor early on (whether it be a banker and/or board member whose been through M&A process) to help navigate conversations on purchasing

Learn More About:
Anders Bialek:
Anders Bialek leads iRobot’s Corporate Development team which is responsible for Strategy, M&A, Partnerships and Venture Capital. Prior to iRobot, Anders worked as a management consultant at McKinsey & Company in Europe serving clients in a variety of industries including telecommunications, financial services and private equity. Prior to management consulting, Anders spent several years in the technology sector in Boston, MA. Anders holds an MBA from INSEAD and a BA from Hobart College.
About iRobot:
Founded in 1990 by Massachusetts Institute of Technology roboticists with the vision of making practical robots a reality, iRobot has sold more than 30 million robots worldwide. The company has developed some of the world's most important robots, and has a rich history steeped in innovation. Its robots have revealed mysteries of the Great Pyramid of Giza, found harmful subsea oil in the Gulf of Mexico, and saved thousands of lives in areas of conflict and crisis around the globe. iRobot inspired the first Micro Rovers used by NASA, changing space travel forever, deployed the first ground robots used by U.S. Forces in conflict, brought the first self-navigating FDA-approved remote presence robots to hospitals and introduced the first practical home robot with Roomba, forging a path for an entirely new category in home cleaning. With more than 30 years of leadership in the robot industry, iRobot remains committed to building robots that provide people with smarter ways to clean and accomplish more in their daily lives.
This episode was recorded on March 10, 2020.