Amazon to buy Roomba-maker iRobot for around $1.7 billion
Amazon.com Inc (NASDAQ: AMZN) on Friday said the e-commerce giant would acquire the robot vacuum cleaner maker iRobot Corp (NASDAQ: IRBT) for about $1.7 billion in the latest push to add smart home devices to its Alexa ecosystem
By Arghyadeep Dutta
Published - Aug 05, 2022, 10:46 AM ET
Last Updated - Jun 24, 2024, 02:57 AM EDT
Amazon.com Inc (NASDAQ: AMZN) on Friday said the e-commerce giant would acquire the robot vacuum cleaner maker iRobot Corp (NASDAQ: IRBT) for about $1.7 billion in the latest push to add smart home devices to its Alexa ecosystem.
The world’s largest online retailer will pay $61 cash per share, valuing iRobot at a premium of 22% from the stock’s last closing price of $49.99.
iRobot, which makes smart vacuum cleaners, Roomba, traded at $197.4, at its peak, during pandemic lockdowns.
Besides sweeping up dirt, the Roomba vacuums that cost as much as $1,000 collect spatial data on households that could prove valuable to Amazon, which is developing so-called smart home technology.
