TL;DR: Amazon in a shock announcement mentioned it has agreed to amass Roomba maker iRobot. The all-cash transaction is valued at roughly $1.7 billion, or $61 per share, and represents a 22 p.c premium over iRobot’s closing value of $49.99 on the finish of buying and selling on Thursday.
The deal offers Amazon a stronger foothold within the area of robots. Last yr, the e-commerce big launched a client dwelling robotic named Astro designed to function a cell safety digital camera, an leisure hub and a communications instrument.
The Wi-Fi related, Snapdragon-powered bot options stereo audio system, twin cameras, a 10-inch touchscreen and even a USB-C port. Astro can solely be bought by invite and can set you again $999.99 throughout the ongoing introductory interval. After that, anticipate to pay $1,449.99 for a possibility that not everybody believes is prepared for mainstream audiences.
Amazon has additionally invested in different devices designed to make life simpler such because the Ring doorbell and its array of Alexa-powered audio system. Amazon’s acquisition of iRobot, nonetheless, is considerably bigger than Ring and represents one of many largest strikes but by newly minted CEO Andy Jassy, who changed founder Jeff Bezos on the helm a bit of over a yr in the past.
In reality, the iRobot deal ranks as Amazon’s fourth largest up to now behind Whole Foods, MGM and One Medical at $13.7 billion, $8.45 billion and $3.9 billion, respectively.
Dave Limp, SVP of Amazon Devices, mentioned they’re excited to work with the iRobot crew to invent in ways in which make prospects’ lives simpler and extra pleasant.
iRobot was based method again in 1990 by Colin Angle, Rodney Brooks and Helen Greiner, who earlier labored in MIT’s Artificial Intelligence Lab. Its first robotic vacuum cleaners for customers arrived in 2002, and the corporate went public in 2005. iRobot additionally has a line of mopping robots for hard-surface flooring and has added a number of options to its vacuums together with automated mud bin emptying.
Per normal, the deal will likely be topic to customary closing situations together with shareholder and regulatory approval. iRobot’s Colin Angle will stay as CEO post-acquisition, we’re instructed.
Image credit score: Kindel Media
