Amazon signs $1.7bn deal to acquire consumer robot company iRobot


E-commerce giant Amazon has signed an all-cash deal worth around $1.7 billion to acquire NASDAQ-listed consumer robot company iRobot.

As per the terms of the deal, Amazon is offering to buy iRobot’s shares for $61 per share.

The consideration includes the net debt of iRobot, which is engaged in designing and developing thoughtful robots as well as intelligent home innovations.

In 2002, iRobot launched the first Roomba robot vacuum and later on the Braava family of mopping robots among others. The company’s product portfolio has technologies and advanced concepts in cleaning, navigation, and mapping.

Amazon acquisition of iRobot

Amazon acquisition of iRobot. Photo courtesy of Robot Corporation.

Dave Limp — Amazon Devices SVP, commenting on Amazon acquisition of iRobot, said: “We know that saving time matters, and chores take precious time that can be better spent doing something that customers love.

See also  Coronavirus vaccine trial : Moderna doses first subject with mRNA-1273 in phase 1 trial

“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.”

See also  ExxonMobil set for $2bn Exxonmobil Baytown expansion project

iRobot was founded by Massachusetts Institute of Technology roboticists in 1990. By 2021, the consumer robot company claims to have sold over 40 million home robots globally.

Commenting on Amazon acquisition of iRobot, Colin Angle — iRobot chairman and CEO said: “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.

See also  Atlas acquires print and digital media solutions provider LSC Communications

“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.”

The closing of the deal is subject to approval from iRobot’s shareholders, regulatory approvals, and other conditions.

Share This