Amazon acquiring Roomba makers for $1.7 billion in latest smart home push

Amazon is making another acquisition to shake up the smart home industry and further expand its presence inside your home. The company announced on Friday that it is dropping $1.7 billion to acquire iRobot, the makers of the Roomba robot vacuums . Amazon and iRobot announced the deal on Friday in a press release; it's an all cash deal that breaks down to $61 per share for iRobot. The deal is, of course, subject to approval from regulators and iRobot shareholders. There are no details on when Amazon and iRobot expect the deal to be formally completed. In the announcement, Dave Limp, the senior vice president of Amazon Devices, said that Amazon will work with iRobot to "invent in ways that make customers' lives easier and more enjoyable." "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… Read full this story

Amazon acquiring Roomba makers for $1.7 billion in latest smart home push have 387 words, post on 9to5mac.com at August 5, 2022. This is cached page on The Best Articles. If you want remove this page, please contact us.