Amazon will pay 15% less for iRobot as the robot vacuum maker takes on new debt
Amazon is going to pay roughly 15% less to acquire iRobot after the robot vacuum maker incurred new debt
By Associated Press
Published - Jul 26, 2023, 10:52 AM ET
Last Updated - Aug 20, 2024, 02:49 AM EDT
NEW YORK (AP) — Amazon will pay roughly 15% less to acquire iRobot after the robot vacuum maker incurred new debt.
The companies said this week that the Seattle-based tech giant will pay $51.75 per share, revised down from $61.00 per share, or $1.7 billion, that was agreed on last year.
iRobot, based in Massachusetts, took on a $200 million loan to fund ongoing operations, the companies said.
For Amazon, the lower acquisition price is expected to be offset by the planned increase in iRobot’s net debt, the companies said.
