Amazon is buying iRobot for $1.7B


    Amazon has introduced that it’s buying iRobot for roughly $1.7 billion.

    iRobot is most well-known for its robotic vacuums however has additionally been increasing into different product classes, together with air purifiers and handheld vacuums.

    Dave Limp, SVP of Amazon Gadgets, mentioned:

    “We all know that saving time issues, and chores take valuable time that may be higher spent doing one thing that prospects love.

    Over a few years, the iRobot group has confirmed its means to reinvent how individuals clear with merchandise which are extremely sensible and creative—from cleansing when and the place prospects need whereas avoiding frequent obstacles within the house, to robotically emptying the gathering bin.

    Clients love iRobot merchandise—and I’m excited to work with the iRobot group to invent in ways in which make prospects’ lives simpler and extra gratifying.”

    The most important money injection from Amazon will allow iRobot to proceed increasing its lineup.

    Colin Angle, Chairman and CEO of iRobot, commented:

    “Since we began iRobot, our group has been on a mission to create modern, sensible merchandise that make prospects’ lives simpler, resulting in innovations just like the Roomba and iRobot OS.

    Amazon shares our ardour for constructing considerate improvements that empower individuals to do extra at house, and I can not consider a greater place for our group to proceed our mission.

    I’m vastly excited to be part of Amazon and to see what we are able to construct collectively for purchasers within the years forward.”

    Amazon is buying iRobot for $61 per share in an all-cash transaction valued at roughly $1.7 billion.

    Colin Angle will stay as CEO of iRobot.

    (Picture Credit score: iRobot)

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