Amazon to scrub up by shopping for Roomba maker iRobot for $1.7 billion

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iRobot Roomba j7 poop

TL;DR

  • Amazon has agreed to amass iRobot, the corporate that makes the favored Roomba household of robotic vacuums.
  • Amazon can pay $1.7 billion in an all-cash transaction.
  • The deal nonetheless wants approval from iRobot shareholders and authorities regulators.

Amazon is making one other massive acquisition that may make it a significant participant in a rising sensible home-based enterprise. The retail large simply introduced plans to purchase iRobot, house of the favored Roomba line of robotic vacuums.

iRobot was fashioned earlier than Amazon, again in 1990, however it solely launched its first Roomba robotic vacuum in 2002. The product, which automated a usually boring family chore, turned the Roomba into a real family identify. The corporate offered 30 million Roombas by the top of 2020. Nevertheless, within the almost 20 years since its first launch, different firms have entered the robotic vacuum market with some success, together with Roborock, Shark, and Eufy. Amazon’s transfer to purchase iRobot may assist prolong Roomba’s market share.

Learn extra: One of the best robotic vacuums

Amazon can pay $1.7 billion to buy iRobot in an all-cash transaction. Nevertheless, the deal received’t be ultimate till it will get approval from iRobot’s shareholders, additionally being topic to regulatory approval. Amazon didn’t announce an anticipated date for the deal to shut. When and if it does, Colin Angle, the present head of iRobot, will proceed to be CEO of the corporate.

That is simply the most recent acquisition Amazon has made within the sensible house house. It purchased the Blink sensible safety digital camera firm in 2017 and the Ring sensible doorbell firm in 2018.

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