iRobot Stock Surges 19% on Ama

2022-08-06

iRobot Stock Surges 19% on Amazon Takeover

Amazon.com Inc. 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. iRobot stock surges 19% on Amazon takeover.

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.

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Comments

Vince Chan
2022-08-06
Vince Chan
time to in [Thinking] [Thinking] [Thinking]
Fayt
2022-08-06
Fayt
thanks for sharing!
Mungerism
2022-08-06
Mungerism
Interesting news
hh488
2022-08-06
hh488
Another opportunity to trade.
CitrusL
2022-08-06
CitrusL
👍
Rick13
2022-08-06
Rick13
Ok

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