logo
  

Amazon To Buy IRobot In $1.7 Bln Deal - Quick Facts

Amazon.com Inc. (AMZN) announced Friday an agreement to acquire consumer robot company iRobot (IRBT) for $61 per share in an all-cash transaction valued at approximately $1.7 billion, including iRobot's net debt.

The companies expect to complete the deal subject to customary closing conditions, including approval by iRobot's shareholders and regulatory approvals.

On completion, Colin Angle will remain as CEO of iRobot.

iRobot designs and builds thoughtful robots and smart home devices. iRobot's product portfolio features technologies and advanced concepts in cleaning, mapping and navigation.

The company, which introduced its first Roomba robot vacuum in 2002, now has sold millions of robots worldwide.

Colin Angle, chairman and CEO of iRobot, said, "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."

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT