Amazon to wash up by shopping for Roomba maker iRobot for $1.7 billion


TL;DR

  • Amazon has agreed to accumulate iRobot, the corporate that makes the favored Roomba household of robotic vacuums.
  • Amazon pays $1.7 billion in an all-cash transaction.
  • The deal nonetheless wants approval from iRobot shareholders and authorities regulators.

Amazon is making one other huge acquisition that can make it a significant participant in a rising good home-based enterprise. The retail big simply introduced plans to purchase iRobot, dwelling of the favored Roomba line of robotic vacuums.

iRobot was shaped earlier than Amazon, again in 1990, but it surely solely launched its first Roomba robotic vacuum in 2002. The product, which automated a usually boring family chore, turned the Roomba into a real family identify. The corporate offered 30 million Roombas by the top of 2020. Nevertheless, within the almost 20 years since its first launch, different corporations have entered the robotic vacuum market with some success, together with Roborock, Shark, and Eufy. Amazon’s transfer to purchase iRobot might assist prolong Roomba’s market share.

Learn extra: The most effective robotic vacuums

Amazon pays $1.7 billion to buy iRobot in an all-cash transaction. Nevertheless, the deal received’t be closing till it will get approval from iRobot’s shareholders, additionally being topic to regulatory approval. Amazon didn’t announce an anticipated date for the deal to shut. When and if it does, Colin Angle, the present head of iRobot, will proceed to be CEO of the corporate.

That is simply the newest acquisition Amazon has made within the good dwelling area. It purchased the Blink good safety digital camera firm in 2017 and the Ring good doorbell firm in 2018.

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TL;DR Amazon has agreed to accumulate iRobot, the corporate that makes the favored Roomba household of robotic vacuums. Amazon pays $1.7 billion in an all-cash transaction. The deal nonetheless wants approval from iRobot shareholders and authorities regulators. Amazon is making one other huge acquisition that can make it a significant participant in a rising good…