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Amazon Announces Intention To Buy iRobot

The firms announced on Friday that Amazon will buy iRobot for $61 per share in an all-cash deal that values the maker of the Roomba at $1.7 billion.

The agreement will strengthen Amazon’s position in consumer robotics. When it unveiled the $1,500 Astro home robot last year, Amazon made a big bet on the market. The device has Alexa built in and can follow users around their homes. Additionally, a variety of smart home appliances have been introduced, including voice-activated microwaves and thermometers as well as Ring doorbells.

“Over many years, the iRobot team has demonstrated its ability to reinvent how people clean with products that are incredibly practical and inventive,” said Dave Limp, Amazon’s hardware devices chief, in a statement. “From cleaning when and where customers want while avoiding common obstacles in the home, to automatically emptying the collection bin.” Customers adore iRobot products, and I’m eager to collaborate with the company to develop new technologies that will improve and simplify their lives.

READ MORE: Evergrande To Collect $818 Million After Terminating  Stadium Deal 

Robotics experts from the Massachusetts Institute of Technology founded iRobot in 1990. It is best known for creating the Roomba, an autonomous robotic vacuum introduced to consumers in 2002. Since then, it has released robotic pool cleaners and mops. In addition to other services, iRobot’s membership program provides automatic equipment replenishment.

Colin Angle, the current CEO of iRobot, will stay on after the transaction is completed.

Robotics experts from the Massachusetts Institute of Technology founded iRobot in 1990. It is best known for creating the Roomba, an autonomous robotic vacuum introduced to consumers in 2002. Since then, it has released robotic pool cleaners and mops. In addition to other services, iRobot’s membership program provides automatic equipment replenishment.

Colin Angle, the current CEO of iRobot, will stay on after the transaction is completed.

After being temporarily halted following the announcement of the purchase, shares of iRobot soared more than 18 percent in pre-market trading. The price of Amazon’s stock decreased by around 5%.

Details soon …

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The firms announced on Friday that Amazon will buy iRobot for $61 per share in an all-cash deal that values the maker of the Roomba at $1.7 billion.

The agreement will strengthen Amazon’s position in consumer robotics. When it unveiled the $1,500 Astro home robot last year, Amazon made a big bet on the market. The device has Alexa built in and can follow users around their homes. Additionally, a variety of smart home appliances have been introduced, including voice-activated microwaves and thermometers as well as Ring doorbells.

“Over many years, the iRobot team has demonstrated its ability to reinvent how people clean with products that are incredibly practical and inventive,” said Dave Limp, Amazon’s hardware devices chief, in a statement. “From cleaning when and where customers want while avoiding common obstacles in the home, to automatically emptying the collection bin.” Customers adore iRobot products, and I’m eager to collaborate with the company to develop new technologies that will improve and simplify their lives.

READ MORE: Evergrande To Collect $818 Million After Terminating  Stadium Deal 

Robotics experts from the Massachusetts Institute of Technology founded iRobot in 1990. It is best known for creating the Roomba, an autonomous robotic vacuum introduced to consumers in 2002. Since then, it has released robotic pool cleaners and mops. In addition to other services, iRobot’s membership program provides automatic equipment replenishment.

Colin Angle, the current CEO of iRobot, will stay on after the transaction is completed.

Robotics experts from the Massachusetts Institute of Technology founded iRobot in 1990. It is best known for creating the Roomba, an autonomous robotic vacuum introduced to consumers in 2002. Since then, it has released robotic pool cleaners and mops. In addition to other services, iRobot’s membership program provides automatic equipment replenishment.

Colin Angle, the current CEO of iRobot, will stay on after the transaction is completed.

After being temporarily halted following the announcement of the purchase, shares of iRobot soared more than 18 percent in pre-market trading. The price of Amazon’s stock decreased by around 5%.

Details soon …

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Our newsletter gives you access to a curated selection of the most important stories daily.

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