Home Amazon Acquires iRobot in $1.7 Billion Deal
August 5, 2022
Amazon Acquires iRobot in $1.7 Billion Deal

By

iRobot is on a new path after its acquisition by Amazon, one that suggests its now parent is becoming more interested in the potential of smart devices that make home life easier.

The two companies have entered into a definitive merger agreement they announced under which Amazon will acquire iRobot. Amazon will pay $61 per share in an all-cash transaction for iRobot with a total value of $1.7 billion including iRobot’s net debt. Colin Angle will remain as CEO of iRobot after closing conditions are met, the companies noted.

“Since we started iRobot, our team has been on a mission to create innovative, practical products that make customers’ lives easier, leading to inventions like the Roomba and iRobot OS,” Angle said in announcing the deal. “Amazon shares our passion for building thoughtful innovations that empower people to do more at home, and I cannot think of a better place for our team to continue our mission. I’m hugely excited to be a part of Amazon and to see what we can build together for customers in the years ahead.”

Dave Limp, senior vp of Amazon Devices, said, “We know that saving time matters, and chores take precious time that can be better spent doing something that customers love. Over many years, the iRobot team has proven its ability to reinvent how people clean with products that are incredibly practical and inventive from cleaning when and where customers want while avoiding common obstacles in the home, to automatically emptying the collection bin. Customers love iRobot products, and I’m excited to work with the iRobot team to invent in ways that make customers’ lives easier and more enjoyable.

Pin It on Pinterest