Amazon Acquires Warehouse Tech Provider for $775 Million

Amazon.com has acquired North Reading, Mass.-based Kiva Systems, which provides automation technology in distribution centers, for $775 million in cash. Amazon takes its warehouse side of the business seriously, adding 17 new facilities — equivalent to millions of square feet — in 2011 for a total of 69 centers. The Seattle-based e-commerce provider said the acquisition is expected to close in the second quarter.