Amazon has agreed to a merger agreement in which the firm will acquire iRobot for $61 per share in an all-cash transaction valued at $1.7 billion.
iRobot produces innovative cleaning products for the home and designs and builds robots and intelligent home innovations. The firm is most known for its Roomba product.
“We know that saving time matters, and chores take precious time that can be better spent doing something that customers love,” said Dave Limp, SVP of Amazon Devices. “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.”