Amazon to expand offering with iRobot acquisition

Amazon has revealed its intention to acquire the consumer robot company, iRobot, after the two companies have reportedly entered into a definitive merger agreement. 

The retail giant will acquire iRobot for $61(£50.38) per share in an all-cash transaction valued at approximately $1.7bn (£1.4bn), including iRobot’s net debt. 

Completion of the transaction is also 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 is known for developing innovative cleaning products for the consumer market, and since introducing the Roomba vacuum in 2002, the brand has continued to “delight customers” with every product generation and saved them the time previously spent on household chores.

Dave Limp, SVP of Amazon Devices, 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 products that are incredibly practical and inventive.

“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.”

Colin Angle, chairman and CEO of iRobot, added: “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.”