Amazon buys iRobot for $1.7 billion in cash

Amazon buys iRobot for $1.7 billion in cash

Amazon has acquired iRobot for $1.7 billion in cash as the mega corporation looks to expand its offering of home devices.

iRobot is a robotics manufacturer with a specialty in housekeeping devices and domestic gadgets. The robotics company is best known for the Roomba — a small disc-shaped robot that can vacuum a home's floors independently.

The acquisition is pending approval from shareholders of iRobot.

Over the past 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 to avoid common obstacles in the home, to automatically emptying the collection bin, said Dave Limp, senior vice-president of Amazon Devices.

Customers love iRobot products, and I am excited to work with the team to make it easier and more enjoyable for customers. Amazon has bought iRobot, a company that is committed to home devices like Echo speakers, Fire tablets and Ring security systems.

Amazon will take over all of iRobot's debt and the company will be sold for $61 a share.

Angle said that 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 am hugely excited to be a part of Amazon and see what we can build together for customers in the years to come. After the merger is complete, Angle will be iRobot's CEO.