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Amazon to buy robotic vacuum cleaner iRobot for $1.7 billion

On August 5, 2022 Amazon announced the conclusion of the agreement on purchase of the producer of iRobot robotic vacuum cleaners for $1.7 billion taking into account debts of the company.

Read also our review of the best Python online courses for 2022

Amazon will pay $61 for a share of iRobot, which produces smart vacuum cleaners under the Roomba brand. This is 22% more than the company's shares were worth after the end of trading on August 4. iRobot posted a net loss of $43.4 million in the second quarter on revenue of $255.4 million.

Following the closing of the deal, iRobot founder and CEO Colin Angle will remain as CEO. The company has existed since 1990. The iRobot portfolio also includes Braava washing vacuum cleaners and various electronic devices for quick cleaning.

Industry experts believe that Amazon, after buying iRobot, will begin to offer new solutions in the field of consumer robotics, in addition to its Astro home robot.

Author: Michael Zippo
2022/08/06

https://linkedin.com/in/michael-zippo-9136441b1
[email protected]

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