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Amazon cleans it 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 robotic vacuum cleaners.
  • Amazon to pay $1.7 billion in money deal
  • The deal nonetheless wants approval from iRobot shareholders and authorities regulators.

Amazon is making one other massive acquisition that may make it a serious participant within the rising good home-based business. Only a retail large he introduced plans to purchase iRobot, residence of the favored Roomba line of robotic vacuum cleaners.

iRobot predated Amazon in 1990, however solely launched its first robotic vacuum cleaner, the Roomba, in 2002. The product, which automated usually boring family chores, turned Roomba right into a family title. The corporate has bought 30 million Roombas by the tip of 2020. Nevertheless, within the practically 20 years because it was first launched, different corporations have entered the robotic vacuum cleaner market with some success, together with Roborock, the shark and Euphy. Amazon’s transfer to purchase iRobot might assist develop Roomba’s market share.

Learn extra: The perfect robotic vacuum cleaners

Amazon pays $1.7 billion to purchase iRobot in an all-cash deal. Nevertheless, the deal won’t be closing till it receives approval from iRobot shareholders and can also be topic to regulatory approval. Amazon has not introduced an anticipated deadline for the deal. When that occurs, Colin Angle, iRobot’s present boss, will proceed to be the corporate’s CEO.

That is simply the newest acquisition Amazon has made within the good residence house. In 2017 it purchased Blink good safety cameras and in 2018 it purchased Ring good doorbell.

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