Amazon to Buy Roomba-Maker IRobot for About $1.7 Billion

Reuters2022-08-05

Amazon.comInc. is buying Roomba maker iRobotCorp. for $1.7 billion, including debt, as the online retailer adds another connected-home product to its portfolio.

Amazon on Friday said it is paying $61 a share for iRobot in an all-cash deal.

The price represents a 22% premium to iRobot’s closing price of $49.99 on Thursday.

iRobot Chief Executive Colin Angle will remain in his position upon completion of the acquisition, which requires approval from shareholders.

iRobot shares rose 19.3% in premarket trading, while Amazon shares fell 0.8%.

iRobot introduced its Roomba vacuum in 2002. The wireless, smart-vacuum learns and maps spaces to clean dust and messes.

Roomba would join other Amazon-owned products like the Alexa virtual assistant speaker and Ring video doorbell that together give the retailer more ways to power smart homes.

Roomba was recently a featured product in Amazon’s Prime Day event for the eighth consecutive year.

iRobot would be the fourth-largest acquisition by Amazon, ranking behind the 2017 acquisition of Whole Foods for $13.7 billion, an $8.5 billion purchase of movie studio MGM in March and last month’s agreement to buy 1Life Healthcare for $3.9 billion.

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Comments

Jess261
2022-08-06
Jess261
Okay
gni
2022-08-05
gni
iWanna!
JasmineT
2022-08-05
JasmineT
Ok
Pinky310
2022-08-05
Pinky310
[smile]
ScarletK
2022-08-05
ScarletK
Nice
Fred Peh
2022-08-05
Fred Peh
They are diversifying their core business to others. Good move indeed.

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Good move indeed.","listText":"They are diversifying their core business to others. Good move indeed.","text":"They are diversifying their core business to others. Good move indeed.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9902230046","repostId":2257985881,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":118,"commentSize":14,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2257985881"}