Amazon buys Roomba maker iRobot for $1.7 billion

Amazon has signed a merger agreement that will see it acquire iRobot, best known for its Roomba robot vacuum. The e-commerce giant will acquire iRobot for $61 per share in an all-cash transaction valued at approximately $1.7 billion, including iRobot’s net debt.

Source: iRobot

“We know that saving time is important and that household chores take up valuable time that can be better spent doing something customers love,” said Dave Limp, SVP of Amazon Devices.

“For many years, the iRobot team has proven its ability to reinvent the way people clean with incredibly convenient and inventive products – cleaning when and where customers want it while avoiding common obstacles around the home, at the automatic collection bin emptying Customers love iRobot products – and I’m excited to work with the iRobot team to invent ways that make customers’ lives easier and more enjoyable.

Smart home data gold

As Wired reports iRobot started out building robots for the US military, but 20 years ago added consumer vacuums to the mix when it introduced the first Roomba vacuum in 2002. It also introduced robotic mops and pool cleaners. iRobot now defines itself as a global consumer robot company that designs and builds “thoughtful robots and smart innovations for the home.”

According The edge“From a smart home perspective, it seems clear that Amazon wants iRobot for the maps it generates to give it this deep understanding of our homes. floor and, more importantly, how they change… This type of data is digital gold for a business whose main purpose is to sell you more stuff.”

Colin Angle, President and CEO of iRobot, commented on the agreement: “Since we launched iRobot, our team has been on a mission to create innovative and convenient products that make life easier for customers, which which led to inventions such as Roomba and iRobot OS. Amazon shares our passion for creating thoughtful innovations that empower people to do more at home, and I can’t think of a better place for our team to pursue our mission.

Completion of the transaction is subject to customary closing conditions, including iRobot shareholder approval and regulatory approvals. At the end, Colin Angle will remain as CEO of iRobot.

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