Amazon has today announced that they have reached a definitive merger agreement with iRobot, the company behind the popular Roomba robot vacuum.
From an outside perspective, it has appeared that the eCommerce giant and iRobot have had a close working relationship for a number of years. Those who pay attention to the trends on Amazon will have noticed that the iRobot Roomba has been a regular star product on Prime Days and Black Friday deals periods for a number of years.
The success of sales on these days could have led to the decision for Amazon to explore an acquisition agreement with the company. That and the staying power of the company which has continued to develop newer products with enhanced technologies.
You can see the full announcement below:
Amazon iRobot Acquisition Announcement
Today Amazon and iRobot announced that they have entered into a definitive merger agreement under which Amazon will acquire iRobot. iRobot has a history of making customers’ lives easier with innovative cleaning products for the home. iRobot has continued to innovate with every product generation, solving hard problems to help give customers valuable time back in their day.
“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.”Dave Limp, SVP, Amazon Devices.
“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.”Colin Angle, Chairman and CEO, iRobot.
Amazon will acquire iRobot for $61 per share in an all-cash transaction valued at approximately $1.7 billion, including iRobot’s net debt. Completion of the transaction is subject to customary closing conditions, including approval by iRobot’s shareholders and regulatory approvals. On completion, Colin Angle will remain as CEO of iRobot.
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