E-commerce giant Amazon and US-based iRobot, a technology company that designs and builds behavior-based AI robots, announced on Friday (August 5) that they have entered into a definitive merger agreement in which Amazon will acquire iRobot.
According to a statement by Amazon, it will buy iRobot for $61 per share in an all-cash deal valued at nearly $1.7 billion (approximately €1.66 billion), including iRobot’s net debt. Colin Engle will continue to lead iRobot.
The purpose of this acquisition
iRobot claims to simplify customers’ lives with home cleaning solutions. With each new generation of products, the company says it develops and addresses complex issues to give customers back their valuable time.
Dave Limp, senior vice president of Amazon Devices, says, “We know that saving time matters, and chores take up valuable time that could be better spent doing something customers love. For many years, the iRobot team has proven its ability to reinvent the way people clean with products that are incredibly practical and inventive – from cleaning when and where customers want, while avoiding common household obstacles, to automatic emptying to the collection bin. Customers love iRobot products – and I’m excited to work with the iRobot team to invent ways that make customers’ lives easier and more enjoyable.”
Amazon is an online store that serves buyers, sellers, and content producers. It provides users with merchandise and content that has been acquired by merchants for resale, as well as those provided by independent sellers.
Through websites such as amazon.com and amazon.ca, Amazon offers its services to the North American and international markets. In addition, it allows content to be published and sold through its branded websites by writers, musicians, filmmakers, app developers and others.
Amazon also offers Kindle Direct Publishing, a web-based tool that allows independent writers and publishers to upload their books for sale to the Kindle Store. It also manufactures and distributes electrical gadgets in addition to offering joint credit card deals, advertising services, and support for developers and businesses through Amazon Web Services.
What does iRobot offer?
Founded in 1990 by roboticists at the Massachusetts Institute of Technology, iRobot’s goal is to realize the dream of useful robots. The consumer robot company designs and builds “thoughtful” robots and smart home innovations to make life better. iRobot introduced the first Roomba robot vacuum cleaner in 2002.
The company’s product portfolio includes technologies and advanced concepts for cleaning, mapping and navigation.
Speaking about the merger, Colin Engle, chairman and CEO of iRobot, said: “Since we started iRobot, our team has been on a mission to create innovative, practical products that make customers’ lives easier, leading to inventions like the Roomba and the iRobot OPERATING SYSTEM . Amazon shares our passion for building thoughtful innovations that empower people to do more at home, and I can’t imagine a better place for our team to continue our mission. I’m extremely excited to be a part of Amazon and see what we can build together for customers in the coming years.”
iRobot claims to have created some of the most important robots in the world. For example, the company’s robots have unraveled the mysteries of the Great Pyramid of Giza, discovered harmful underwater oil in the Gulf of Mexico, and saved thousands of lives in conflict and crisis zones around the world.
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