Amazon to Acquire iRobot in $1.7 Billion Deal
“We know that saving time matters, and chores take precious time that can be better spent doing something that customers love,” said Dave Limp, SVP of Amazon Devices, in a statement. “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.”
Amazon says it will acquire iRobot at $61 per share in an all-cash deal, valued at roughly $1.7 billion, including the latter’s net debt. iRobot CEO Colin Angle will remain the company’s CEO.
“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,” said Angle, chairman and CEO of iRobot. “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.”
iRobot is known for their Roomba vacuum from 2002 that automatically vacuums floors and carpets. The company has since expanded its product line up to wet sweepers, cordless vacuums and auto-emptying Roombas. Roombas already have Amazon Alexa integration and the acquisition will likely bring further discounts on Roombas during sale periods such as Prime Day and more.