Amazon to accumulate iRobot for $1.7 billion

Amazon and iRobot have entered right into a “definitive merger settlement” underneath which Amazon will purchase iRobot.

iRobot is the well-known maker of modern cleansing merchandise for the house, together with the Roomba vacuum cleansing robotic.

iRobot says it has continued to innovate with each product era, fixing onerous issues to assist in giving prospects precious time again of their day.

Dave Limp, SVP of Amazon Units, says: “We all know that saving time issues, and chores take treasured time that may be higher spent doing one thing that prospects love.

“Over a few years, the iRobot group has confirmed its capacity to reinvent how individuals clear with merchandise which can be extremely sensible and creative – from cleansing when and the place prospects need whereas avoiding frequent obstacles within the house, to mechanically 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 pleasant.”

Colin Angle, chairman and CEO of iRobot, says: “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 will purchase iRobot for $61 per share in an all-cash transaction valued at roughly $1.7 billion, together with iRobot’s internet debt.

Completion of the transaction is topic to customary closing situations, together with approval by iRobot’s shareholders and regulatory approvals. On completion, Colin Angle will stay as CEO of iRobot.

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