Agencies-Gaza post
Amazon buys $1.7 billion iRobot
Amazon on Friday announced a $1.7 billion deal to acquire iRobot, maker of robotic electric rumba, in a merger that would further the company’s purposes for artificial intelligence and smart homewares.
Amazon said in a press statement that “iRobot”, based in the United States, is a global manufacturer of state-of-the-art smart robotics and household items, launching the “Roomba” self-powered vacuum ten years ago.
The Senior Vice President of Hardware at Amazon, Dave Limp, said iRobot’s team had over several years proven sufficient to give a new way for people to clean their homes with very practical and innovative products.
The acquisition transaction is assumed to have the approval of the company’s shareholders and official regulators.
Amazon will pay for the purchase of iRobot $61 per share in addition to the company’s debt. Colin Angel will remain CEO of iRobot following Amazon’s acquisition.
Analyst Colin Sebastian of Baird said in a letter sent to investors that the acquisition improves Amazon’s interest and market position in robots and electronic home appliances, and highlights the value of the AI strategy.
Amazon invests in smart and automated household items through its acquisition of several companies, including RING, the home bell manufacturer, and KEVA, which specializes in-warehouse robots, as well as ZOX, the developer of autonomous vehicles.
