Amazon to acquire iRobot
Amazon has agreed to acquire the Roomba vacuum maker iRobot as part of plans to accelerate its growth beyond retail.
The online retail giant will buy iRobot in an all-cash transaction valued at approximately $1.7 billion. The purchase will also include iRobot’s net debt.
Dave Limp, SVP of Amazon Devices, said: “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.”
Having introduced the first Roomba robot vacuum in 2002, iRobot’s product portfolio now features technologies and advanced concepts in cleaning, mapping and navigation. On completion of the acquisition, Colin Angle will remain as chief executive of the business.
Angle said: “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.”
