- Today Amazon announced it is buying iRobot for $1.7 billion in cash. These are the details.
Amazon and iRobot announced that they have entered into a definitive merger agreement under which Amazon will acquire iRobot. iRobot is known for making customers’ lives easier with innovative cleaning products for the home.
Amazon is going to acquire iRobot for $61 per share in an all-cash transaction valued at about $1.7 billion, including iRobot’s net debt. The completion of the transaction is subject to customary closing conditions, including approval by iRobot’s shareholders and regulatory approvals. And on completion of the deal, Colin Angle will remain as CEO of iRobot.
Dave Limp, SVP of Amazon Devices said that the iRobot team has proven the ability to reinvent how people clean with products. And Limp has a goal of working with the iRobot team to invent ways to make the lives of customers easier.
KEY QUOTES:
“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 of 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 of iRobot
