Amazon to buy Roomba vacuum maker iRobot for $1.7 billion

Amazon stated Friday it’s purchasing iRobot, identified for its self-operating Roomba vacuum cleaner, for $1.7 billion.

The e-commerce corporate outed iRobot’s goal to make its consumers’ lives “more uncomplicated and extra relaxing” via getting rid of time spent on cleansing chores.

“We know that saving time issues, and chores take treasured time that may be higher spent doing one thing that buyers love,” stated Dave Limp, senior vp of Amazon Devices in a observation. 

Amazon will gain iRobot for $61 in line with percentage in an all-cash transaction that can come with iRobot’s internet debt of about $275.6 million. The deal is matter to approval via shareholders and regulators. Upon of entirety, iRobot CEO Colin Angle, will stay in his place.

“Amazon stocks our hobby for construction considerate inventions that empower other folks to do extra at house, and I can’t suppose of a higher position for our staff to proceed our project,” Angle stated in a observation. 

Separately, Bedford, Massachusetts-based iRobot reported its quarterly effects. Revenue plunged 30% on order discounts and delays, and the corporate introduced it was once shedding 10% of its team of workers.

Shares of the corporate, that have slumped sharply over the past 12 months, jumped greater than 19% in early industry on Friday.

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