Amazon buys iRobot - manufacturer of Roomba robotic vacuum cleaners

Amazon announced its purchase of iRobot, a well-known manufacturer of robotic vacuum cleaners.

Purchase Details

Amazon said the deal cost the company $1.7 billion, at $61 per share. Completion of the deal is subject to customary closing conditions, including iRobot shareholder and regulatory approvals.

Under the terms of the signed agreement, Colin Angle will remain iRobot'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 Colin 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.”

As a reminder, iRobot was founded in 1990 at the Massachusetts Institute of Technology, and the first Roomba robotic vacuum cleaner was introduced in 2002. In addition to household assistants, the company also created the first Micro Rover robots used by NASA, built the first ground robots used by the U.S. military in conflicts, introduced the first robot of remote presence with self-preservation, which received FDA approval, for hospitals.

Source: Amazon