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2 Sep 2022
$1.7 Billion Will Be Spent by Amazon on iRobot
Amazon announced it would buy iRobot for approximately $1.7 billion. A major distributor of robotic vacuums, iRobot has been venturing into other product lines, including air purifiers and handheld vacuums.
Under the terms of the deal, the acquisition will be completed after approval by iRobot's shareholders and regulatory authorities, which is expected in the fourth quarter of this year.
"We are excited to work with Amazon and look forward to supporting them with our work on Alexa, cloud-connected robots, and our vision of smart home and beyond," said Colin Angle, iRobot's chairman, and CEO.
Colin Angle, Chairman, and CEO of iRobot commented:
"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.
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."
SVP of Amazon Devices, Dave Limp, said:
"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 incredibly practical and inventive products—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 ways that make customers' lives easier and more enjoyable."
Amazon's cash injection will provide additional resources for iRobot, which can use that funding to add to its product lineup."
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