Amazon mentioned Friday it’s shopping for iRobot, identified for its self-operating Roomba vacuum cleaner, for $1.7 billion.
The e-commerce firm outed iRobot’s intention to make its prospects’ lives “simpler and extra pleasurable” by eliminating time spent on cleansing chores.
“We all know that saving time issues, and chores take valuable time that may be higher spent doing one thing that prospects love,” mentioned Dave Limp, senior vice chairman of Amazon Gadgets in an announcement.
Amazon will purchase iRobot for $61 per share in an all-cash transaction that may embody iRobot’s internet debt of about $275.6 million. The deal is topic to approval by shareholders and regulators. Upon completion, iRobot CEO Colin Angle, will stay in his place.
“Amazon shares our ardour for constructing considerate improvements that empower individuals to do extra at residence, and I can’t consider a greater place for our crew to proceed our mission,” Angle mentioned in an announcement.
Individually, Bedford, Massachusetts-based iRobot reported its quarterly outcomes. Income plunged 30% on order reductions and delays, and the corporate introduced it was shedding 10% of its workforce.
Shares of the corporate, which have slumped sharply over the past 12 months, jumped greater than 19% in early commerce on Friday.
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