To strengthen its reach inside your house and shake up the smart home market, Amazon is making yet another purchase. The company revealed on Friday that it will spend $1.7 billion to buy iRobot, the firm behind the Roomba robot vacuums.
In a press statement released on Friday, Amazon and iRobot revealed the all-cash agreement, which works out to $61 per share of iRobot. Of course, regulatory clearance and shareholder consent are required for the deal to go through. There are no specifics on the anticipated date that Amazon and iRobot expect the deal to close. One of Amazon’s biggest smart home transactions to date will be the purchase of iRobot. Ring, a maker of smart cameras and doorbells, was also purchased by Amazon for $1 billion a few years back.
Colin Angle will continue to lead iRobot when the deal is completed. In a statement addressing the purchase, Angle stated, “I’m tremendously delighted to be a part of Amazon and to see what we can develop together for consumers in the years ahead.
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Speaking on this matter, Dave Limp, the senior vice president of Amazon Devices, said that Amazon will work with iRobot to “invent in ways that make customers’ lives easier and more enjoyable.” He added, “We know that saving time matters, and chores take precious time that can be better spent doing something that customers love. Over many years, the iRobot team has proven its ability to reinvent how people clean with products that are incredibly practical and inventive—from cleaning when and where customers want while avoiding common obstacles in the home, to automatically emptying the collection bin. Customers love iRobot products—and I’m excited to work with the iRobot team to invent in ways that make customers’ lives easier and more enjoyable.”