IRobot introduced its Roomba robot vacuum in 2002 and later on launched the Braava family of mopping robots and other products including the Create 3 educational robot, which was rolled out in April 2022
The iRobot Roomba j7+ robot vacuum. (Credit: iRobot Corporation)
Amazon has agreed to acquire iRobot, a US-based consumer robot company, in an all-cash deal valued at about $1.7bn, which is inclusive of the latter’s net debt.
As per the terms of the transaction, shareholders of the publicly-listed iRobot will be paid $61 per share by the e-commerce major.
IRobot is involved in designing and developing “thoughtful” robots and “intelligent” home innovations like robotic cleaning products.
The company introduced its Roomba robot vacuum in 2002 and subsequently launched other products such as the Braava family of mopping robots.
Its product portfolio includes technologies and advanced concepts in cleaning, mapping, and navigation.
Earlier this year, the company launched the Create 3 educational robot, which is claimed to give educators and advanced makers an alternative to robotics kits that need assembly and testing.
Amazon devices SVP Dave Limp said: “Over many years, the iRobot team has proven its ability to reinvent how people clean with products that are incredibly practical and inventive—from cleaning when and where customers want while avoiding common obstacles in the home, to automatically emptying the collection bin.
“Customers love iRobot products—and I’m excited to work with the iRobot team to invent in ways that make customers’ lives easier and more enjoyable.”
IRobot was established in 1990 by Massachusetts Institute of Technology roboticists. By 2021, the company is said to have sold more than 40 million home robots around the world.
IRobot chairman and CEO Colin Angle 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 iRobot OS.
“Amazon shares our passion for building thoughtful innovations that empower people to do more at home, and I cannot think of a better place for our team to continue our mission.”
The closing of the transaction is subject to approval from shareholders of iRobot, receipt of regulatory approvals, and other conditions.