Amazon sucks up Roomba for $1.7 billion
There are plenty of robot vacuum cleaners available to buy these days, but the best-known brand remains Roomba. I was lucky enough to test and review the first generation model Roomba vacuum cleaner in 2002 and I've been a big fan ever since.
Today, retail giant Amazon announces that it has entered into a definitive merger agreement to acquire Roomba creator iRobot. What will this mean for fans of its products?
"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."
Colin Angle, chairman and CEO of iRobot is equally enthusiastic about the deal, saying:
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.
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 deal is subject to approval by iRobot’s shareholders and regulatory approvals. Colin Angle will continue to serve as CEO of iRobot once the deal completes.