Amazon has announced the acquisition of the consumer robot company iRobot. The brand is well-known for its Roomba robot vacuums, Braava robot mops, and other home useful robots.
Amazon is expected to spend $1.7 billion ($61 per share) in an all-cash transaction to acquire iRobot, while shareholder and regulatory approval is still required.
Colin Angle, chairman and CEO of iRobot, said that:
“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,”
Amazon said that iRobot has “a history of making customers’ lives easier with innovative cleaning products for the home,” and confirmed that Colin Angle would continue to serve as CEO of iRobot when the acquisition is finalized.
If the contract is not complicated, Amazon must pay a $94 million termination fee to iRobot. However, it seems that the transaction will be finalized since both sides are interested in it.
